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IN BRIEF: Kibo unit Mast Energy passes satisfactory performance test

26th Apr 2024 08:30

Mast Energy Developments PLC - developer of reserve power generation plants - Receives official confirmation that its 9-megawatt Pyebridge flexible power plant has passed its "satisfactory performance days" requirements under its current existing T-1 capacity market contract. This means that Pyebridge will retain the current capacity market contract's associated annual gross profit margin income of GP308,000, which is paid and received monthly in arrears.

Mast Energy has previously said, in addition to the current contract, Pyebridge site has secured further capacity market contracts to ensure minimum annual gross profit margin income totalling GP817,000 until 2028. The company says final preparations for the next larger second phase of Pyebridge are near complete, and implementation is expected shortly.

Kibo Energy PLC holds a 55% stake in Mast Energy.

Mast stock price in London: 0.50 pence, up 33% early Friday

12-month change: down 57%

Kibo stock price in London: 0.040p, up 6.7%

12-month change: down 43%

Kibo stock price in Johannesburg: 0.01 rand cent

12-month change: down 67%

By Artwell Dlamini, Alliance News reporter

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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