Turkish Billionaire To Set Up Floating Electricity Plant In Kenya
Karpowership, a Turkish energy company that makes floating electricity plants, has announced plans to expand in 15 African countries including Kenya.
Zeynep Harezi, the chief commercial of Karpowership, informed Bloomberg that the construction process of power ships has begun and will be essential in providing solutions to communities that lack electricity.
The Turkish company uses gas to generate electricity to power the floating plants, also known as power ships.
The floating plants are power stations that use nuclear reactors for energy. The stations can be a floating structure such as a conventional ship.
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“In a very short time, the construction process of our ships being produced in Turkish shipyards will be completed, and we will be able to offer faster solutions to countries needing electricity,” she explained.
The aim, according to Harezi, is to double its power capacity in the next five years. The company, which has 36 ships, possesses an installed capacity of 6,000 megawatts.
“With our fleet composed of Powerships, FSRUs, LNG Carriers, Support Ships we provide universal access to power for people and communities on 4 continents around the world, “read part of the profile on the company’s site.
How the Company Works
The Turkish company is owned by Karadeniz Energy Group – which has invested billions in power ships to provide electricity connections to residential and commercial consumers.
The company, which began operations in 1998, has grown rapidly globally, connecting over 20 countries with 36 power ships.
Karpowership enters into a power purchase agreement with a country, which then in turn distributes electricity through the grid. If the power ships fail to deliver, a country can terminate the agreement and be compensated.
Since its inception 3 years ago, the company has faced several challenges including disputes over energy bills whereby cash-strapped African countries fail to pay before the required deadlines.
In 2022, Karpowership temporarily cut off the electricity supply to Guinea-Bissau over an unpaid Ksh2.3 billion bill. Other countries such as Sierra Leone have also faced power cuts in the past over unpaid bills.
Turkish Billionaire To Set Up Floating Electricity Plant In Kenya
