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Thursday, January 19, 2023
Karpower International B.V. (Karpowership) and Mitsui O.S.K. Lines, Ltd. have reached a deal with Japan Bank for International Cooperation (JBIC) and MUFG Bank, Ltd. to finance a floating storage and regasification unit (FSRU) in Senegal.
JBIC and MUFG Bank signed the loan agreement on December 30, 2022, with KARMOL, through Senegal LNGT Company Limited, for an amount up to $71 million. The FSRU will supply regasified liquefied natural gas (LNG) to a Karpowership floating power plant, known as a Powership, in Senegal.
MOL and Karpowership will continue to provide power generation solutions around the world through their LNG-to-Powership business, known as KARMOL.
This loan will promote business development in developing nations, including in Africa. KARMOL is committed to providing reliable and uninterrupted power to the region.
Karpowership is an internationally renowned power generation company and a pioneer behind floating electricity-generation facilities, known as Powerships. With more than 25 years of experience, Karpowership has a fleet of 36 Powerships, operating across four continents. These vessels are capable of connecting directly to a country’s electricity grid in as little as 30 days, leveraging existing infrastructure. They offer an innovative, flexible energy solution that leaves minimal environmental trace.
In 2019, Karpowership and MOL established KARMOL, a joint venture to become the world’s premier LNG-to-power solution provider. Since then, KARMOL has been investing in related assets and joint marketing for its solution around the world.
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