Ten Year Clean Energy Power Purchase Agreement on South Africa Waste to Energy Project

Kibo Energy PLC, is pleased to announce that it has entered into a 10-year take-or-pay conditional Power Purchase Agreement (`PPA’) to generate baseload electricity from a 2.7 MW plastic-to-syngas power plant. The plant will be constructed, commissioned and operated for an Industrial Business Park Developer in Gauteng, South Africa. The Project, is the first project under Sustineri Energy, a joint venture in which Kibo Energy PLC holds 65% and the balance of 35% is held by Industrial Green Energy Solutions PTY LTD (‘IGES’).
The Project will provide cleaner electricity, by making use of a high temperature pyrolysis process, where selected non-recyclable plastics will undergo thermal degradation to produce high quality syngas, which will in turn feed gas engines to generate both electricity and heat energy. Additionally, there is potential to sell the heat energy generated as a byproduct from the gas engines directly to customers inside the industrial park.

Project Highlights

• Reducing plastic pollution to produce sustainable energy: by using selected and specific high calorific plastic as fuel feedstock, which can under prevailing legislation no longer be dumped at landfill sites, the Project will play an important role and make a significant contribution towards the advancement of clean energy generation.
• Addressing the energy supply issues: the Project will assist in alleviating the energy supply crisis faced in South Africa by providing alternative base load supply.

Louis Coetzee, Chief Executive Officer of Kibo, commented: “Following the Company’s disinvestment from coal, we are excited to have signed our first waste to energy PPA that aligns to our strategy on advancing clean energy in the African market. The Project is a first in a pipeline of projects under the Company’s waste-to-energy portfolio, which we are proud to have worked on together with our partners, IGES.