Kibo Energy, the energy focused development company, 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 the client with 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 by-product from the gas engines directly to customers inside the industrial park.
Louis Coetzee, CEO 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.”
