Kibo to co-develop 36.3 GWh of energy storage projects in S Africa

May 30 (Renewables Now) – Renewables developer Kibo Energy Plc (LON:KIBO; JSE:KBO) has joined forces with Hasta Trust to co-develop a portfolio of long-duration energy storage projects in South Africa, initially targeting 36.3 GWh of capacity.The projects are owned by National Broadband Solutions (NBS), a subsidiary of Hasta. Kibo Energy said in a bourse filing on Monday that work on the schemes will be undertaken via an exclusive agreement with Hasta Trust.Under the deal, Kibo Energy will acquire a 51% stake in NBS, while granting its partner exclusive access to its strategic capabilities and capacity related to the provision of long-duration storage solutions. The renewables developer will have the right to appoint three directors to the board of NBS.The target portfolio will serve South African industrial…

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