KIBO ENERGY PLC - Five-Year PPA Finalized with Statkraft Markets GmbH for UK Reserve Power Generation Project, Bordersley

Five-Year PPA Finalized with Statkraft Markets GmbH 
for UK Reserve Power Generation Project, Bordersley

Kibo Energy PLC
(Incorporated in Ireland)
Registration Number: 451931
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO
 ISIN: IE00B97C0C31
(“Kibo” or “the Company”)

Dated: 25 June 2019

                            Kibo Energy PLC (‘Kibo’ or the ‘Company’)
                      Five-Year PPA Finalized with Statkraft Markets GmbH
                       for UK Reserve Power Generation Project, Bordersley

Kibo Energy PLC, the multi-asset, Africa focused, energy company, is pleased to announce an update
on its 60% owned subsidiary, MAST Energy Developments Limited (‘MED’), a private UK registered
company targeting the development and operation of flexible power plants to service the UK reserve
power generation market.

Highlights
       *Five-year Power Purchase Agreement (‘PPA’) with Statkraft Markets GmbH for planned 5MW
        Bordersley Reserve Power generation project
       *Key commercial milestone reached as MED focuses on the commercial commissioning of
        Bordersley end Q1 2020

Louis Coetzee, CEO of Kibo Energy, commented, “Finalizing a PPA with a global player such as
Statkraft is a key deliverable in terms of the overall Project Management Plan at Bordersley to deliver
a technically and commercially viable project, thereby solidifying the platform for long term revenue
creation as of Q1 2020. With a portfolio exceeding 12 TWh from over 400 customers, Statkraft is a
natural partner for us and we are delighted to be working with its team.”

Details
As part of its strategy to develop a portfolio of small-scale Reserve Power generation projects, initially
in the UK, MED has today concluded negotiations for a five-year Power Purchase Agreement (‘PPA’)
for its Bordersley project with Statkraft Markets GmbH, a leading provider of long-term PPA's and have
agreed to execute the PPA finalized today, on 01 July 2019.

Bordersley is MED’s first shovel-ready site targeted for commercial commissioning end Q1 2020, which
will comprise a 5MW gas-fuelled power generation plant. Under the terms of the PPA, MED will be
responsible for the operation and maintenance of Bordersley, and Statkraft Markets GmbH will engage
in providing a comprehensive solution including feedstocks (gas) and trading the power generated at
Bordersley

Statkraft Markets GmbH is engaged in trading power and fuels in continental Europe as well as emission
certificates worldwide. It is part of the Statkraft Group (Statkraft AS, Oslo/Norway), the largest
European producer of renewable energy, and is a significant player on the European energy trading
exchanges with particular know-how in physical and financial energy trading as well as in the bilateral
electricity market.

                                              **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         +27 (0) 83 4408365        River Group                Corporate and Designated
                                                                            Adviser on JSE

Ben Tadd /             +44 (0) 20 3700 0093      SVS Securities Limited     Joint Broker
Tom Curran

                                                 First Equity Limited       Joint Broker
Jason Robertson          +44 (0) 20 7374 2212

Andrew Thomson         +61 8 9480 2500           RFC Ambrian Limited        NOMAD on AIM

Isabel de Salis /      +44 (0) 20 7236 1177      St Brides Partners Ltd     Investor and Media Relations
Gaby Jenner / Beth                                                          Adviser
Melluish

  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.

  Additionally, the Company has a 60% interest in MAST Energy Developments Limited (‘MED’), a
  private UK registered company targeting the development and operation of flexible power plants to
  service the Reserve Power generation market.

  Johannesburg
  25 June 2019
  Corporate and Designated Adviser
  River Group

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