Kibo Energy secures US$1.24m investment for diverse energy projects

AFRICA – Kibo Energy, Africa focused energy company, has announced that it has signed a binding term sheet with an investment consortium consisting of several high net worth entities and individuals, including two of the company’s largest shareholders, for up to £1 million (US$1.24m). The investment will be used to continue development of a diverse energy project portfolio comprising 1,255 MW of electricity generation capacity approaching commercialisation. The primary focus is on the Benga independent power project in Mozambique, where Kibo hopes to deliver 350 MW to 400 MW. Kibo…

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