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Mast Energy Developments PLC - developer of reserve power generation plants - Starts to refurbish its second generator set, or genset, at its Pyebridge flexible power plant in Derbyshire, England. Says RiverFort Global Opportunities PCC Ltd has agreed to provide £1.1 million to fund this second genset overhaul, as part of a third advance against the project finance agreement. In February, RiverFort committed to an initial funding facility up to £4.0 million.
The first refurbished genset started commercial operation early last month. Once the work on the second genset has been completed, Pyebridge will have two 2.7-megawatt refurbished gensets operating and generating at optimum capacity and performance, Mast says. The plan remains to overhaul the remaining third genset in due course.
Kibo Energy PLC holds a 55% stake in Mast Energy.
Current Mast stock price in London: 0.17 pence, up 3.0% Tuesday morning
12-month change: down 89%
Current Kibo stock price in London: 0.013p
12-month change: down 79%
Current Kibo stock price in Johannesburg: 0.01 rand cent
12-month change: down 50%
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