Mozambique: Karpowership mulls $1 bln investment into new floating power plant

Login

Register

http://www.clubofmozambique.com/

Mozambique: Karpowership mulls $1 bln investment into new floating power plant

12:28 CAT | 09 Aug 2024

Image: AIM Moçambique

Karpowership, a Turkish company focused on the production of electricity on sea-borne vessels, intends to invest US$1 billion to install a floating thermoelectric plant for energy production in Mozambique.

The maritime infrastructure will be powered by natural gas and have an installed capacity of 470-500 megawatts (MW) of energy.

The move was announced in Maputo by Karpowership’s commercial director, Zeynep Yilmaz, on Thursday afternoon (08-08).

A Karpowership vessel of this type is currently on its way along the African coast, having set sail from Indonesia for the Canary Islands, and is expected to sail around the Cape of Good Hope at the southern tip of neighbouring South Africa before continuing along the Atlantic coast.

Yilmaz says that the ship is capable of supplying energy to five million Mozambicans, and export surplus power to neighbouring countries.

“This plant can supply energy to around five million inhabitants and also export to South Africa, Zimbabwe, Botswana and Zambia, as well as injecting money back into the Mozambican economy. Its operation will create thousands of jobs for the young Mozambican generation,” she said.

The purpose of the ship’s docking at the Port of Maputo is to showcase the nature of the infrastructure and provide more information about its management and operation.

Yilmaz said that the electricity distributed by the Karpowership floating plant has a very low economic cost and will help boost the Mozambican economy.

“We hope to do this using gas from Mozambique, as the country has gas available in Maputo from the Temane Project and this gas is available today,” she said.

“We can use this gas to distribute more electricity to Mozambicans and it can also be exported to create a cash flow for the Mozambican economy,” she added.

Karpowership has a plant of this type in the northern city of Nacala, where it has been operating since 2016, producing just over 120 MW of electricity.

Source: AIM Moçambique