LONDON, UK: Kibo Energy PLC, the multi-asset energy development company, notes that its 55% subsidiary, MAST Energy Developments acquired a 9MW Gas-powered Standby Generation Facility.

MAST is a UK -based multi-asset operator in the rapidly growing Reserve Power market. MAST’s most recent corporate transaction involves the completion of a Sale and Purchase Agreement (“SPA”) to acquire Pyebridge Power Limited, comprising an installed and commissioned synchronous gas-powered standby generation facility with 9 MW export capacity based in Derbyshire.

The fully operational generation plant is located on a freehold site with established infrastructure, fully permitted and grid – connected with a Power Purchase Agreement, Communications and Capacity Market contract that collectively guarantees net income, projecting a c. 21% IRR over life of project.