Kibo Energy Subsidiary Advances Power Project

Kibo Mining (GB:KIBO) has released an update.

Kibo Energy PLC’s subsidiary, Mast Energy Developments, reports successful progression in the refurbishment of their Pyebridge site’s power generation equipment, with the first genset’s overhaul nearing completion and commercial operation expected by the end of June 2024. This step is part of a larger plan to overhaul all three gensets at the site, aiming to secure uninterrupted minimum guaranteed income until 2028 through Capacity Market contracts and a revised Power Purchase Agreement with Statkraft. The company expresses confidence in the project’s timeline, budget, and future revenue generation potential.

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