If you go to your library on the Kobo site, there will be a list of all the books you have bought. Most will have a button on the list with either "Download ePub" or "Adobe DRM epub". Pressing the button will start the download.
For the books with the "Download ePub" button, the epub will be downloaded directly to wherever you want to save it. These have no DRM and can be added directly to calibre.
For the books with the "Adobe DRM epub" button, an acsm file is downloaded. This is then used by Adobe Digital Editions to download the file from the Adobe server. After the download the book is added to the ADE library. You can send it to the ereader when it is connected from ADE. Or you can add the book to calibre. But, for calibre to do much with it the DRM needs to be removed. For this, google for Apprentice Alf.
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