The share price of JSE- and Aim-listed Kibo Energy rose by more than 7% and 3% on the JSE and LSE, respectively, on May 18, after the company announced that it had entered into an agreement with South Africa-based Industrial Green Solutions (IGES) to jointly develop a series of waste-to-energy projects in South Africa. The companies have established Newco, in which Kibo will hold a 65% interest and IGES the balance, to deliver the projects. The parties have set an initial target of generating more than 50 MW of electricity for sale to industrial users.
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