26th May 2020 17:49
(Alliance News) - Kibo Energy PLC on Tuesday said operations at the Bordersley plant in the UK have resumed amid easing lockdown measures.
The Bordersley 5 megawatts gas-fuelled power generation plant in the UK is currently being developed for Kibo by its 60% owned subsidiary, manager and operator of Bordersley Power Ltd, Mast Energy Developments Ltd.
The energy company said it has now received confirmation from AB Impianti Srl that it has, subject to some ongoing Covid-19 related restrictions and safety measures, resumed operations which will increase over the coming weeks.
AB Impianti is managing the end-to-end engineering, procurement & construction scope of works for Bordersley. The completion of these works, which was temporarily delayed due to the Covid-19 outbreak, has been resumed as a priority matter and Mast Energy Developments and AB Impianti continue to progress activity.
Kibo said Mast Energy Developments' discussions with regards to securing substantial financing is ongoing. Mast Energy Developments is also in active discussions with suppliers of "shovel ready" sites in aggregate of 300 megawatts in order to bolster its projects portfolio pipeline.
"Although the impact of the global Covid-19 pandemic is far from over, with the gradual easing of lockdown and travel restrictions starting to take place around the world, we are delighted that AB Impianti have been able to resume operations, resulting in the recommencement of the engineering, procurement & construction scope of works," said Kibo Chief Executive Louis Coetzee.
"This work programme will now be advanced as a matter of priority so that construction and ultimately commissioning can commence at Bordersley as soon as possible," added Coetzee.
Kibo shares closed untraded in Johannesburg on Tuesday, last quoted at ZAR0.08 each, while in London the stock closed up 2.1% at 0.24 pence a share.
By Evelina Grecenko; [email protected]
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