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Kibo Energy agrees to install gas power project in England
StockMarketWire.com
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Energy generator Kibo Energy said UK subsidiary Sloane Developments had agreed to develop a 6 megawatt flexible gas power project in England's west midlands.
Development of the project was subject to a successful listing of Sloane, to be renamed Mast Energy Developments, on the London Stock Exchange, targeted before the end of 2020.
The project would expand Sloane's existing portfolio of UK shovel-ready sites in line with a strategy to acquire and develop a 300 megawatt portfolio of small-scale flexible power generation assets.
Kibo Energy would retain a 51% interest in Sloane following the spin off.
'Following the LSE Admission, Sloane will be in a position to develop its portfolio at scale and pace, as opposed to on a project-by-project basis and advance significantly towards imminent revenue generation,' executive chairman Louis Coetzee said.
At 1:31pm: (LON:KIBO) Kibo Mining share price was +0.01p at 0.25p
Story provided by StockMarketWire.com
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