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Kibo Energy conducting due diligence to acquire portfolio of UK renewable energy projects
StockMarketWire.com
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Africa-focused Kibo Energy announced it has begun due diligence in relation to the potential acquisition of all or part of a prospective portfolio of UK renewable energy projects.
The company said that the opportunity consists of several standalone renewable energy projects in the UK, focusing on the generation and/or storage of electric power from renewable generation sources.
The portfolio also comprises several waste-to-energy projects in which the company has negotiated exclusivity and a first right to acquire, subject to successful due diligence results and an agreement on commercial terms and conditions.
Chief executive Louis Coetzee said: 'This opportunity is in line with our strategic intent to deliberately and actively transition from fossil fuel-based energy solutions to sustainable renewable energy solutions.
'It also has the potential to significantly advance and accelerate the development of the company's renewable energy project portfolio in the UK and, subject to positive outcomes from ongoing due diligence and feasibility assessments, provide the company with a further source of short-term revenue.'
It has engaged a specialist company to conduct the due diligence.
At 2:15pm: (LON:KIBO) Kibo Mining share price was 0p at 0.22p
Story provided by StockMarketWire.com
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