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Press release

Karpowership, has been connected to The Gambia’s national grid since May 2018 and been providing reliable and affordable electricity since first day of operation. Karadeniz Powership Koray Bey, with its 36 MW has helped to significantly reduce the electricity supply gap in the country.

Powerships are barge or self-propelled ships, mounted with floating power plants, delivering the most reliable power supply solution with an optimum cost. With wide ranges of installed capacities for utility size operations and no completion or construction risk, Powers hips are ready for power production within a short period of time. They are built utilising the latest dual fuel engine technology, having the ability to operate both on Heavy Fuel Oil and Natural Gas. Fuel flexibility ensures the lowest cost of delivered power and maximum efficiency with no capital required from the country in need of electricity.

Karpowership was selected by Nawec among many competitors, through a competitive bidding process, as the proposal with better price and superior commercial offerings.
The company has a proven track record of supplying sustainable, reliable, and affordable electricity with all its Powerships. Currently, with the decrease in heavy fuel oil (HFO); the total cost of electricity for the good people of The Gambia is lower than 11.65 UScents per kilowatt hour as of today. With this price, Powership is the most affordable source of electricity in The Gambia.

The Powership, is currently operating with low sulphur heavy fuel Oil (HFO) to generate electricity but thanks to its hybrid operational ability, it can convert to natural gas when available, ensuring additional cost savings for The Gambia. Karpowership is ready to support the investments in transmission and distribution network when needed; with the mission of increasing access to electricity in the country.

Since the arrival of Karpowership, there has been a tremendous and significant improvement in available electricity supply in The Gambia. Nawec has seen a substantial positive change in all the challenges prior to the Powership project. Power supply has become more stable and uninterrupted. Load shedding has been virtually eliminated contributing to the dynamics of the business operations in general and household life.

In its efforts to expand its operations and provide an efficient and cost-effective electricity supply generally, Karpowership is currently working with the Government of Mali for the operation of a gas fired power plant that will be located in The Gambia. This project has enormous economic advantages for The Gambia. Not only will it be an extra source of foreign exchange for Nawec that will be derived from the payments for the location of the project site, but it will also generate employment and provide affordable electricity supply that will come from the extra power generated from a gas-fired generation of 400 MWs.

While providing reliable and affordable electricity; Karpowership is also a socially responsible company committed to the development of communities in which they operate. With its operations in The Gambia, the company has been engaging in social responsibility projects to further enhance the growth of the local people and economy. Among some of the things Karpowership has done in 2019 are donating rice, oil and other food supplied to orphanages; providing fishing equipment to fishermen, and supporting coastal clean up efforts with National Environmental Agency.

The role of Powership in the energy sector globally has provided an opportunity for a more accessible, efficient and affordable solution to the challenges of power supply; in emerging economies of the world.
Karpowership is continuing to invest in the area and has recently deployed a 240 MW Powership to Senegal as per the agreement signed in August 2019; and the Powership became operational within 2 months of contract signing. The operation in Senegal will switch to LNG within 6 months of time.

As a key strategic partner, Karpowership is committed to The Gambia’s development and will continue to provide all Gambians with sustainable, reliable, and affordable electricity.

About Karpowership
Karpowership is the owner, operator and builder of the only Powership™ (floating power plant) fleet in the world and plays an active role in medium to long-term investments; providing access to fast-track, affordable and reliable electricity. Powerships have a range of 30 MW to 470 MW and are delivered ready to operate in less than 60 days. Currently, Karpowership owns and operates 22 Powerships with an installed capacity exceeding 3,500 MW and another 5,000 MW are under construction or in the pipeline. Karpowership is operational in Indonesia, Lebanon, Mozambique, Ghana, Sierra Leone, Guinea Bissau, Gambia, Senegal and the Caribbean.

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