Kibo Energy ramps up long duration storage plans for South Africa

Kibo Energy ramps up long duration storage plans for South Africa

Kibo Energy ramps up long duration storage plans for South Africa 626 391 Energy Storage Journal

June 9, 2022: Kibo Energy unveiled plans on May 30 to develop more than 36,000MWh of long duration energy storage capacity in South Africa working with Hasta Trust.

Kibo will acquire a 51% stake in Hasta’s wholly-owned National Broadband Solutions (NBS), in exchange for granting NBS exclusive access to Kibo energy storage systems for market sectors of interest to the firm’s projects.

Kibo CEO Louis Coetzee said the move “aligns perfectly with the company’s strategy to become a significant presence in the long duration energy storage market and sets up an additional potential revenue stream for Kibo”.

The announcement came after Kibo, which is also focused on UK projects, signed an agreement on May 17 with vanadium redox flow battery brand, CellCube, to open a “gigawatt-sized pipeline” of energy storage in South Africa.

CellCube CEO Alexander Schönfeldt told BESJ that the agreement was “a breakthrough — this is the first gigawatt announcement ever made for flow batteries”.