Kibo Energy ropes in German IPP to boost operating capacity
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JOHANNESBURG - Kibo Energy Plc said on Monday that it has signed a collaboration agreement with German-based STEAG Energy Service GmbH (SES) in a bid to give it operating and engineering capacity for power projects.
As an independent power producer, STEAG group manages and operates more than 6,600MW of its own power plants worldwide, the majority of which are hard coal fired, and in addition operates 6,700MW thermal power plants for third party clients.
Kibo Energy is simultaneously developing three similar coal-fuelled power projects: the Mbeya Coal to Power Project (MCPP) in Tanzania; the Mabesekwa Coal Independent Power Project (MCIPP) in Botswana; and the Benga Power Plant Project (BPPP) in Mozambique.
The multi-asset, energy company, said the strategic partnership between it and SES was a significant step in incorporating world class operating and engineering expertise, experience and capability to its development capacity for its growing portfolio of advanced energy projects.
Louis Coetzee, chief executive of Kibo Energy, said Kibo will benefit greatly from the experience of SES, specifically in respect of managing and operating utility scale power plants.
"Should SES be awarded an operating and maintaining contract on any of the Kibo projects we are confident that the quality, intensity and dedication that SES employ on their own power projects would be replicated on Kibo's to great benefit," Coetzee said.
"What is perhaps most exciting is the depth of knowledge and wide range of skills and experience that SES brings with them."
Coetzee said Kibo had recently taken great strides forward in strengthening the successful delivery of the projects currently in its portfolio, in the committed execution of its stated corporate strategy of becoming a leading regional independent power producer.