According to the World Bank, the world’s cities generated 2.01 billion tonnes of solid waste in 2016 and this is expected to grow by 70% to 3.4 billion by 2050 on the back of rising population numbers. By turning plastic waste into a “commodity”, our projects will play an important role in making a significant contribution towards the advancement of clean energy generation.
Under Sustineri Energy, a joint venture in which Kibo holds 65% and the balance of 35% is held by Industrial Green Energy Solutions PTY LTD, Kibo is
building a portfolio of seven waste to energy projects in South Africa. The JV will own and operate these facilities, once constructed and commissioned
Using pyrolysis technology, these projects will process non-recyclable plastics to generate alternative energy to supply industrial users.
These projects will build up to a generating target of c.50 MW. The first project in development:
2.7 MW Plastic to Syngas Power Plant
The JV 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 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.
The plant will be constructed, commissioned and operated for an Industrial Business Park Developer in Gauteng, South Africa.
The project represents an attractive investment case with anticipated low-risk IRRs between 11% – 14% p/a. Refer to RNS 451931 dated 14th February 2022 on the latest update regarding this project.
Waste-to-Energy is one of the circular economy solutions that can deliver economic, social, and environmental co-benefits by tackling widespread chronic waste problems while reducing emissions and creating alternative, sustainable power for the UK.
Billingham, UK Waste-to-Energy
Kibo has signed a Head of Terms agreement with EQTEC plc, a world-leading gasification solutions company, to potentially acquire an interest of 54.54% in the 25MW Billingham waste gasification and power plant project in Haverton Hill, Tesside, UK.
Billingham will be the UK’s first sustainable Waste-to-Energy plant, giving the project first mover advantage in this rapidly growing space. The plant will process c.200,000 metric tonnes of non-recyclable everyday municipal solid waste per year, otherwise destined for landfill or incineration.
Updates on this transaction will be provided to the market in due course.