Senegal’s Karpowership secures US$60m from Mauritius Commercial Bank

SENEGAL – The Mauritius Commercial Bank Ltd, MCB, is facilitating Senegal’s endeavour to improve its national electrification rate through its US$60 million participation in the syndicated project finance facility of US$140 million to Karpowership. MCB was not only a co-mandated lead arranger but provided the highest loan commitment. The project finance facility is enabling Karpowership to operate its 235 MW Powership alongside the shores of Dakar since August 2019. The Powership is contributing to around 15% of Senegal’s electricity supply. According to Africa Energy Outlook 2019, Senegal’s electrification rate was…

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Floating power plant Karpowership in plans to expand access to electricity in West Africa

WEST AFRICA – Karpowership, a unit of Turkey’s Karadeniz Energy and an operator of floating power plants, is in talks to bring power to two West African countries, as onshore plans to expand access to electricity have been hit by coronavirus-related restrictions. Karpowership, which already supplies eight African countries, is using the high reliability of its mobile units to attract more clients. Its vessels can hook into an onshore grid quickly, sidestepping the red-tape and construction issues involved with building a traditional power plant. And these ships come with their…

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