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Karpowerships deliver electricity to landlocked Zambia through Mozambique and Zimbabwe

11.03.2015

For more information please contact:

Asli Altug

Email: pr@karadenizholding.com

 

…Karadeniz Holding’s subsidiary Karpowership launches World’s First Cross-border Powership Project in South Eastern Africa…

Istanbul, Turkey – The owner of the world’s first Powership fleet, Karadeniz Holding’s subsidiary, Karpowership, marked the Commercial Operational Date (COD) of Karadeniz Powership Irem Sultan with a ceremony in the port of Nacala, Mozambique. Karadeniz Powership Irem Sultan will supply power to land-locked Zambia via Mozambique and Zimbabwe, making the world’s first cross-border power delivery, of economically critical electricity, by a single Powership.

Working in partnership with Mozambique’s and Zambia’s national utilities, Electricidade de Mozabique (“EdM”,) and ZESCO (formerly known as Zambia Electricity Supply Corporation Limited), the contract is to initially supply 100 MW of baseload power to land-locked Zambia, with the prospect of providing an additional 100 MW in the second half of 2016.

Karpowership is committed to work collectively with Zambia to assist it in overcoming its current power deficit. Zambia’s power deficit  has continued to widen since December 2015, as low water levels at the Kariba Dam continue to impair hydropower production in the country.  The dam was only 21% full in the last week of November 2015, according to the Zambezi River Authority, and this is not expected to improve in the near future as the drought across much of Southern Africa continuesl. When compared to other existing power plants, the Karpowership project will  provide cost-effective, efficient, and reliable power supply to Zambia in a  a rapid and economical manner.

“Ensuring that countries on the African continent have access to a consistent baseload of electricity through a cost efficient power solution derived from low-cost fuel sources, such as heavy fuel oil or LNG, is a top priority for us,” says Patrick O’ Driscoll, Commercial Sales Director for Karadeniz Holdings. “Karpowership was established from the very onset to provide economies with baseload power in relatively short timeframes thereby removing the factor of  a country’s power supply – or lack thereof – being perceived as an obstacle to investment and development. The fact that we can do this for even Zambia, a landlocked country, is a dream realized.”

Speaking at the ceremony, Chief Operating Officer of Karadeniz Energy Group, Mr. Nuri Doğan Karadeniz, said: “Karpowership appreciates the level of collaboration among all key stakeholders that facilitated the commissioning of the first 100 MW Powership in Mozambique for Zambia, with Zimbabwe’s transit role. Karpowership will for the first time undertake cross-border power delivery with a Powership, unlocking an unprecedented source of electricity for all Zambians. This project is a demonstration of true regional cooperation between these SADC countries and Karpowership .”

 

Powerships Provide Environmentally Friendly Solutions

Karpowership developed its Powership Project to compensate for the increasing energy needs of countries from the Middle East, Asia and Africa. Powerships provide fast and low-cost energy to meet any countries’ mid to long-term requirements. By connecting to the country’s existing energy network, Powerships are able to distribute independently generated energy to all people and businesses around the country. Powerships are constructed through environmentally friendly processes and adhere to global environmental standards and certification requirements.

 

About Karpowership

Karpowership is a subsidiary of Karadeniz Holding who is a sector pioneer in innovative energy projects for the last 20 years, playing an active role in medium- to long-term investments in domestic and international markets. The company started its energy investments in Turkey, and is the first private electricity exporter in the country, having had supplied more than 27 billion kilowatt hours electricity worldwide since 2003. Currently, Karpowership owns and operates more than 1800 MW installed capacity globally. Since 2010, nine Powerships have been completed which add up to more than 1500 MW installed capacity. Powerships are contracted to supply 15% of Iraq’s, 27% of Lebanon’s, 22% of Ghana’s total electricity generation in addition to contracts in Indonesia and Zambia. In addition 6000 MW of Powerships are in the construction pipeline. Karpowership is the only owner, operator and builder of the first Powership™ (floating power plant) fleet in the world.

As of today, the company has more than 1500 of employees and is expanding through renewables, Powerships and other innovative energy supply solutions.