KIBO ENERGY PLC - Completion of Agreement with IGES to Co-develop Renewable Energy Projects in South Africa

Completion of Agreement with IGES to Co-develop Renewable Energy Projects in South Africa

Kibo Energy PLC (Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO
ISIN: IE00B97C0C31
(“Kibo” or “the Company”)

Dated: 30 July 2021

                                  Kibo Energy PLC (‘Kibo’ or the ‘Company’)

   Completion of Agreement with Industrial Green Energy (Pty) LTD to Co-develop Renewable Energy
                                      Projects in South Africa

Kibo Energy PLC, the multi-asset, African focused energy company, is pleased to announce that further to its
previous announcements in this regard (see RNS’ dated 18 May 2021 and 16 June 2021), it has now satisfied all
conditions and completed the agreement with South Africa-based Industrial Green Energy Solutions (Pty) Ltd
(‘IGES’) (https://www.industrialgreenenergy.com/) to jointly develop a portfolio of Waste to Energy projects in
South Africa (‘the Agreement’). Kibo and IGES have entered into an amendment (the ‘Amendment’) to fast
track the implementation of the first project.


Completion of the Agreement and Amendment follows the positive findings of an extensive due diligence
process.


Louis Coetzee, CEO of KIBO said: “We are very pleased with the completion of the Agreement with IGES,
and the Amendment provides us with the opportunity to streamline and fast track the further implementation
and development of the first project.”

                                                     **ENDS**

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no.
596/2014.

For further information please visit www.kibo.energy or contact:


 Louis Coetzee           info@kibo.energy            Kibo Energy PLC       Chief Executive Officer

 Andreas Lianos          +357 99 53 1107             River Group           JSE Corporate and Designated Adviser

 Claire Noyce            +44 (0) 20 3764 2341        Hybridan LLP          Broker

 Bhavesh Patel /
                         +44 20 3440 6800            RFC Ambrian Ltd       NOMAD on AIM
 Stephen Allen

 
Isabel de Salis /
                         info@stbridespartners.co.uk St Brides Partners Ltd Investor and Media Relations Adviser
 Charlotte Hollinshead


Notes
Kibo Energy PLC is a multi-asset, Africa focused, energy company positioned to address the acute power
deficit, which is one of the primary impediments to economic development in Sub-Saharan Africa. To this end,
it is the Company’s objective to become a leading independent power producer in the region.


Kibo is simultaneously developing three similar coal-fuelled power projects: the Mbeya Coal to Power Project
(‘MCPP’) in Tanzania; the Mabesekwa Coal Independent Power Project (‘MCIPP’) in Botswana; and the Benga
Independent Power Project (‘BIPP’) in Mozambique. By developing these projects in parallel, the Company
intends to leverage considerable economies of scale and timing in respect of strategic partnerships, procurement,
equipment, human capital, execution capability / capacity and project finance.

Johannesburg
30 July 2021
Corporate and Designated Adviser
River Group

Date: 30-07-2021 08:00:00
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