Kibo Energy appoints new business development executive

Kibo Energy announced the appointment of Peter Oldacre as its new group business development executive on Friday, as part of its executive committee.

The AIM-traded company said Oldacre had extensive experience in renewable energy and energy-storage project development, with a deep understanding of technical, financial, and commercial aspects of the industry.

He had previously advised, developed, acquired, and revitalised businesses within the energy, renewables, strategic minerals, investments, and global corporate markets.

Kibo said Oldacre’s skills in investment and equity sourcing, international project finance, and specialised blended financing would add to its skill set.

The board said the addition of Oldacre to the executive committee of Kibo was in line with the firm’s strategic intent to develop, own and operate clean and renewable energy solutions.

As a member of the committee, Oldacre would be responsible for the development, management, and execution of appropriate plans to implement the company's business development strategy.

“We are extremely pleased to welcome Peter Oldacre to the Kibo Energy team - his wealth of knowledge and expertise in renewable energy and energy storage will further strengthen the group's business strategy and aligns with our commitment to advancing clean/renewable energy generation and storage,” said chief executive officer Louis Coetzee.

“The appointment of Mr Oldacre further demonstrates Kibo's commitment to deliver a portfolio of operational revenue-generating projects within the next 18-to-24 months as previously announced.”

Coetzee said that almost all the projects in the company's project portfolio currently found themselves in a “specific” development phase.

“Peter's ability to join the dots across complex deal-making mandates between investors, project developers, asset owners and funders with significant performance success over the last decade will add significant strategic capacity and momentum towards the successful delivery of the Kibo projects portfolio.”

At 0803 GMT, shares in Kibo Energy were up 3.33% at 0.11p.

Reporting by Josh White for Sharecast.com.