Kibo Energy, Industrial Green Solutions Sign Waste-to-Energy Deal
Multi-asset, African focused energy company Kibo Energy announced a partnership with Industrial Green Solutions (IGES) for the development of several waste-to-energy projects in South Africa. Signed on Tuesday, the agreement foresees the development of seven projects equating to 50MW.
The deal provides for the establishment of Newco Energy – responsible for the entire project portfolio – in which Kibo will own 65% – providing a R11.1 million equity loan for the portfolio’s initial project – and IGES 35%. The project portfolio additionally sees Lesedi Nuclear Services being responsible for the engineering, procurement, construction, operations and management services, established through a strategic partnership with Kibo.
The first project in the pipeline involves the construction of an 8MW Base Load Waste to Energy Generation facility for an industrial client, followed by six other projects at different locations. The seven projects will be developed using Pyrolysis technologies to convert non-recyclable plastics to syngas for energy generation and will primarily be supplied to industrial clients throughout South Africa.
According to a statement the agreement is in line with the company’s strategy to integrate renewable energy into its project pipeline, which includes three utility-scale power generation and mining project
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