DOCSLIB.ORG

Government of Sierra Leone

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Government of Sierra Leone Government of Sierra Leone PRESS RELEASE SIGNING OF THE UTILITY GRID INFRASTRUCTURE AND ELECTRICITY SUPPLY AGREEMENT BETWEEN GOVERNMENT OF SIERRA LEONE AND KARPOWER INTERNATIONAL DMCC (Monday, 11 June 2018 - Freetown, Sierra Leone) The Government of Sierra Leone represented by The Ministry of Energy, the Ministry of Finance and the Electricity Distribution and Supply Authority, EDSA, have today concluded and signed a two-year Utility Grid Infrastructure & Electricity Supply Agreement with the Karadeniz Powership Kaya Bey Company Limited, (Karpowership), for the generation of electricity from its Maritime vessel docked in Freetown. I. Background In a bid to alleviate the immediate power challenges and to ensure a more sustainable and affordable power supply for the next twenty-four months, the Ministry of Finance, the Ministry of Energy in collaboration with the Electricity Distribution and Supply Authority, (EDSA), and the Electricity Generation and Transmission Company, (EGTC), constituted a committee to renegotiate the terms of the contract with Karpowership. Late last year, the previous Government entered into an arrangement with Karpower International to supply 30MW for a period of 5 years at 19.596 USc/KWh. This, in excess of the average tariff paid by EDSA’s customers of 18.76 USc/KWh, would have resulted in high deficits for the Authority, a situation that has made EDSA heavily reliant on Government’s subsidies for the cost of daily operations. In general, subsidies negatively affect Government’s spending on required social sector services, particularly in education and health. 1 II. Gains from Renegotiations We are pleased to inform the general public that the Committee has successfully renegotiated the Agreement and made the following substantial gains: i. Reduced the tariff to 16.4 USc/KWh from the original tariff of US$19.596 USc/KWh negotiated by the former Government. This represents an annual savings of approximately US$9 million and is competitive in comparison to similar Karpower projects in Ghana and the Gambia, which have either longer durations and/or larger contracted capacity. ii. Reduced the contracted available capacity for which EDSA is obligated to pay whether or not the power is distributed, particularly for the rainy season when Bumbuna Hydro, the least cost option, is at full capacity of 50MW. This has the effect of reducing the cash flow burden of EDSA. iii. Reduced the duration of the contract from 5 to 2 years in line with the mediumterm strategy of the energy sector and to minimize Government’s exposure in the event of early termination of the contract. iv. Limited tax and duty exemptions to Heavy Fuel Oil (HFO), equipment and withholding tax. Unlike the original contract negotiated by the former Government, which granted Karpower International and its affiliates blanket exemptions on all taxes and duties, under the renegotiated contract, Karpower will pay duties and taxes on most of its activities, including PAYE and GST. v. Reduced the foreign currency (US dollar) requirements from 100% for fuel and all other payments to 100% for fuel only and a ratio of 70% to 30 for USD to SLL for the other payments. III. Consultation with Development Partners In adherence to the Energy Sector Policy between Government and the Development Partners, (2016), Government consulted the World Bank Group on the renegotiated terms and conditions of the contract. On 25th May 2018 the World Bank issued its No Objection to Government to conclude the Power Purchase Agreement with Karpower International. The Bank also recognized and commended the efforts of Government in reducing tariff and making significant savings estimated at US$ 18.0 million over the contract period of 2 years. For the purpose of transparency in handling public resources, the Term Sheet below provides a comparison between the original contract negotiated by the previous Government and the renegotiated terms of the current Government. 2 Summary Table of Comparison of Terms between the new and old Agreements Original Renegotiated Item Contract Contract Terms Terms Capacity Payment 6.9 USc/KWh 6.4 USc/KWh Fuel Premium 4.27 USc/KWh 2.00 USc/KWh Fuel Cost 8.426 USc/KWh 7.997 USc/KWh Contracted Capacity • Dry Season (7Months) 30MW 30MW • Wet Season (5Months) 20MW 15MW Tariff 19.596 USc/KWh 16.4 USc/KWh Savings in Tariff 3.196 USc/KWh Annual Payment by EDSA US$39.745 mn US$30.547 mn Annual Savings by EDSA US$9.1mn IV. Medium and Long-term Intervention While Government is remedying the immediate power supply crisis, it is also pursuing medium and long-term arrangements, including the Cote D’Ivoire-Liberia-Sierra Leone and Guinea, (CLSG/WAPP) Transmission Line Project, the Western Area Power Generation Project (the CEC project), the Bumbuna II Hydro Project and the 60MW Solar Project, which is supported by the World Bank. V. Alignment with the Strategic Vision of the New Direction. With thorough planning, coordinated investment and commitment by all sector agencies, the Ministry of Energy will continue to enhance access to electricity and other energy related activities throughout the country in alignment with the aims of the Strategic Vision: • Technical Audit of the Sector – for efficient and sustainable operations • Robust Reform - in the Generation, Transmission and Distribution of power. • District Capital Electrification – for the decentralization of power. • Investment in low-cost renewable projects: Solar, Hydro, Wind and Biomass: - For affordable and sustainable growth. - END - 3 .
Load more

Recommended publications
  • ZEEBRIEF 164 14 Maart 2020 Mutaties Nederlandse Zeeschepen
    j jaar ZEEBRIEF 164 14 maart 2020 Mutaties Nederlandse Zeeschepen, NIEUWSBRIEF-266 A1C WILLIAM H. PITSENBARGER, IMO 8124371, 18-11-1981 contract, 2-3-1983 kiel gelegd, 3-9-1983 te water gelaten als THERESE DELMAS, 12-1983 opgeleverd (BV) door Chantiers de l’ Atlantique, St. Nazaire (D28) aan Société Navale Chargeurs Delmas-Vieljeux (S.N.C.D.V.), Duinkerken-Frankrijk (FNYZ). Containerschip, 30.750 BRT, 10.038 NRT, 32.709 DWT. 1417 TEU. 189,01 (178,33) x 32,21 x 18,83 x 11,400 meter. 5 ruimen, 5 dekkranen, 297,5 en 2.197,5 ton bunkers, verbruik 43,5 ton/dag, 18 kn. 15.255 EPK, 11.199 kW, 7 cyl, 2 tew, 660 x 1400, Sulzer 7RLB66, Cie. De Const. Mec. Sulzer CCM, Mantes. 1986 verkocht aan Société Navale et Commerciale Delmas-Vieljeux (S.N.C.D.V.), Duinkerken- Frankrijk. 1991-1995 verkocht aan SCAC-Delmas-Vieljeux (S.D.V.), Duinkerken-Frankrijk, 1-9-1996 in beheer bij Delmas Armement. 1999 thuishaven en vlag: Nassau-Bahamas. 2000/2001 verkocht aan RR & VO L.L.C. 1-3-2001 verkocht door RR & VO L.L.C. aan US Navy, 2001 ingebracht bij Tuskeegee Shipholding Co. L.L.C., thuishaven: Baltimore Md. (WDJJ), in beheer bij Red River & Van Ommeren L.L.C., in operationeel beheer bij Red River Shipping Corp. of Rockville, Md. voor contract bij Military Sealift Command (MSC). 15-10-2001 vertrokken van Antwerpen naar Charleston. 28-11-2001 bij Detyens Shipyard, Charleston, S.C. gedoopt A1C WILLIAM H. PITSENBARGER (T-AK 4638) door de naamgever, genoemd naar de Amerikaanse Vietnam oorlogsheld, contract voor 5 jaar met Militairy Sealift Command, verbouwd voor het vervoer van munitiën en ingezet bij de Air Force met als basis Diego Garcia, 12-12-2001 in dienst bij Militairy Sealift Command, ingezet in de Pacific voor Maritime Prepositioning Program Squadron Three.
    [Show full text]
  • Developments in the 'LNG to Power' Market and the Growing Importance of Floating Facilities
    July 2021 Developments in the ‘LNG to Power’ market and the growing importance of floating facilities OIES Paper: NG 172 Mike Wyllie, Managing Director, OpenWater Energy Ltd & Research Associate, OIES The contents of this paper are the author’s sole responsibility. They do not necessarily represent the views of the Oxford Institute for Energy Studies or any of its members. Copyright © 2021 Oxford Institute for Energy Studies (Registered Charity, No. 286084) This publication may be reproduced in part for educational or non-profit purposes without special permission from the copyright holder, provided acknowledgment of the source is made. No use of this publication may be made for resale or for any other commercial purpose whatsoever without prior permission in writing from the Oxford Institute for Energy Studies. ISBN 978-1-78467-181-5 i Contents Figures .................................................................................................................................................... ii Tables ..................................................................................................................................................... iii 1. Introduction and context ...................................................................................................................... 1 2. History of floating LNG to power ......................................................................................................... 1 3. Technical background ........................................................................................................................
    [Show full text]
  • Power Africa Transactions and Reforms Program: Final Report
    POWER AFRICA TRANSACTIONS AND REFORMS PROGRAM FINAL REPORT POWER AFRICA TRANSACTIONS AND REFORMS PROGRAM FINAL REPORT DECEMBER 2019 Submitted by: O. LLYR ROWLANDS, CHIEF OF PARTY TETRA TECH ES, INC. 1320 N. COURTHOUSE ROAD, SUITE 600 ARLINGTON, VA 22201 EMAIL: [email protected] CONTRACT NUMBER: AID-623-C-14-00003 MAY 23, 2014 TO NOVEMBER 23, 2019 DISCLAIMER The author’s views expressed in this publication do not necessarily reflect the views of the United States Agency for International Development or the United States Government. This publication was produced for review by the United States Agency for International Development. It was prepared by Tetra Tech ES, Inc. Photo by Ryan Kilpatrick CONTENTS 1. EXECUTIVE SUMMARY 2 2. INTRODUCTION 6 East Africa 9 Liberia 73 Djibouti 19 Nigeria 79 Ethiopia 23 Senegal 88 Kenya 31 Southern Africa 95 3. RESULTS 9 Rwanda 44 Angola 98 Tanzania 49 Malawi 101 West Africa 56 Zambia 103 Ghana 65 Monitoring and Evaluation (M&E) 107 Power Africa Tracking Tool (PATT) 109 4. SUPPORT TO THE Power Africa Partners 110 COORDINATOR’S Gender Integration 111 Environmental and Social Due Diligence 113 OFFICE 107 Communications 117 Strategy Documents 121 5. CHALLENGES & Challenges 124 LESSONS Lessons Learned 125 LEARNED 124 6. RECOMMENDATIONS FOR FUTURE POWER AFRICA SUPPORT 128 APPENDIX A: PATRP RESULTS 135 APPENDIX B: PATRP ACRONYMS 144 PATRP FINAL REPORT 1 1. EXECUTIVE SUMMARY Launched in 2013, Power Africa is This final report details PATRP’s activities during contract implementation (May 2014 to November 2019), a U.S. Government-led partnership, which included transaction advisory support for power coordinated by the United generation projects, assistance to off-grid electrification efforts, energy sector policy and regulatory support to States Agency for International African governments, and a range of other work streams Development (USAID), that brings designed to achieve Power Africa’s goals.
    [Show full text]
  • THE REPUBLIC of GHANA Global Medium Term Note Programme
    THE REPUBLIC OF GHANA Global Medium Term Note Programme Under this Global Medium Term Note Programme (the “Programme”), the Republic of Ghana (the “Issuer”) may from time to time issue notes (the “Notes”) denominated in any currency agreed between the Issuer and the relevant Dealer (as defined below). Notes may be issued in bearer or registered form (respectively “Bearer Notes” and “Registered Notes”). The Notes may be issued on a continuing basis to one or more of the Dealers specified under “Overview of the Programme” and any additional Dealer appointed under the Programme from time to time by the Issuer (each a “Dealer” and together the “Dealers”), which appointment may be for a specific issue or on an ongoing basis. References in this Base Prospectus to the “relevant Dealer” shall, in the case of an issue of Notes being (or intended to be) subscribed by more than one Dealer, be to all Dealers agreeing to subscribe such Notes. An investment in Notes issued under the Programme involves certain risks. For a discussion of these risks see “Risk Factors”. This Base Prospectus has been approved as a base prospectus by the Financial Conduct Authority (the "FCA") as competent authority under Regulation (EU) 2017/1129 (the "Prospectus Regulation"). The FCA only approves this Base Prospectus as meeting the standards of completeness, comprehensibility and consistency imposed by the Prospectus Regulation. Approval by the FCA should not be considered as an endorsement of the Issuer or of the quality of the Notes that are the subject of this Base Prospectus. Investors should make their own assessment as to the suitability of the Notes.
    [Show full text]
  • HAYA CHEMAITILLY. Sectarian Politics and Public Service
    Afkar: The Undergraduate Journal of Middle East Studies 1, no. 1 (Fall 2019): 33–47 Sectarian Politics and Public Service Provision: The Case of Electricité du Liban HAYA CHEMAITILLY, King’s College London Abstract This article explores the impact of sectarian power-sharing agreements on public service provision by looking at the case of the Lebanese public electricity company, Electricité Du Liban. It argues that sectarian power-sharing presents a significant obstacle to providing high- quality services and renders public utility companies inefficient. In Lebanon, this system is the foremost contributor to the current 1,000 MW electricity deficit, a deficit that has resulted in daily power cuts since the 1990s. With the adoption of the Taʾif Agreement at the end of the civil war, ministries and SOEs were placed under sectarian control in a system that does not allow for the meritocratic recruitment of public officials. This has facilitated corruption, nepotism, and poor management, as was the case in the Karadeniz affair, in which the Ministry of Energy and Water acquired three powerships from Turkey. This article also debates the potential privatization of the electricity sector. While private companies such as Electricité De Zahlé suggest that privatization could solve many of the current issues, there is a risk that it would have limited impact if politically connected elites acquired the private contracts. Moreover, the prospects for privatization remain bleak, as sectarian politics make reaching consensus over policies a lengthy and often, unattainable, process. Keywords: sectarianism; Lebanon; electricity; public services; conflict reconstruction; privatization; Electricité Du Liban Haya Chemaitilly is currently doing a master’s program in International Energy at Sciences Po Paris.
    [Show full text]
  • 30 April 2021 Our
    Date: 30 April 2021 Our Ref: 14/12/16/3/3/2/2005 14/12/16/3/3/2/2006 14/12/16/3/3/2/2007 Avena Jacklin GroundWork Attention: Ms Jacklin Subject: RE: Proposed Gas to Power Powership Project at the Ports of Saldanha Bay (Western Cape), Ngqura (Eastern Cape) and Richards Bay (KwaZulu Natal) Dear Ms. Avena Jacklin Reference is made to the comments received by Triplo4 Sustainable Solutions via email on the 31 March 2021. Comments are made in response to groundWork comments. groundWork comments are captured in italic text, followed by our response: 1. groundWork submits these comments on Karpowership (Pty) Ltd’s draft Environmental Impact Assessments and Specialist Reports (DEIR) of the proposed gas to power via powership projects (the “projects”) located at the Port of Saldanha Bay (Western Cape), Port of Ngqura (Eastern Cape) and Richards Bay (KwaZulu Natal). These build on the comments we submitted on the Projects Scoping Report. 2. groundWork has a particular interest and expertise in environmental justice issues, and a long- standing history of working with, and representing, the interests of historically disadvantaged communities within South Africa. 3. Our concerns related to the Environmental Impact Assessments (hereinafter the ‘EIA’) and Specialist Reports fall into the following categories: 4. Need 5. Costs 6. Climate change impacts 7. Air quality impacts 8. Marine impacts Triplo4 Sustainable Solutions (Pty) Ltd, a Level 1 B-BBEE Contributor ISO 9001 & 14001 Certified KZN North Coast Tel: 032 946 3213 | Fax: 032 946 0826 | E-mail: [email protected] Suite 5, The Circle Business Centre, Douglas Crowe Drive, Ballito 4420 | PO Box 6595, Zimbali, 4418 Reg No.
    [Show full text]
  • PIAC 2020 Semi-Annual Report
    PIAC PUBLIC INTEREST AND ACCOUNTABILITY COMMITTEE ESTABLISHED UNDER THE PETROLEUM REVENUE MANAGEMENT ACT, 2011 (ACT 815) PIAC Public Interest and Accountability REPORT ON THE MANAGEMENT AND USE OF Committee PETROLEUM REVENUES FOR THE PERIOD www.piacghana.org JANUARY – JUNE 2020 PUBLIC INTEREST AND ACCOUNTABILITY COMMITTEE REPUBLIC OF GHANA “REPORT ON THE MANAGEMENT AND USE OF PETROLEUM REVENUES FOR THE PERIOD JANUARY – JUNE 2020 ABOUT THIS REPORT The 2020 Semi-annual Report is in fulfilment of PIAC’s statutory obligation under the Petroleum Revenue Management Act, 2011 (Act 815), as amended by Act 893, to publish Semi-annual and Annual Reports. This Report is a reconciliation of data supplied by stakeholder institutions, and an independent assessment of the collection, management, and use of the country’s petroleum revenues for the period January – June 2020. 2 Public Interest and Accountability Committee January – June 2020 Contents List of Tables 5 List of Figures 6 List of Acronyms 7 Foreword 10 Executive Summary 11 CHAPTER 1 13 1.0 INTRODUCTION 13 1.1 Background 13 1.2 Scope 14 1.3 Methodology 14 1.4 Outline of the Report 14 CHAPTER 2 15 2.0 DEVELOPMENTS IN THE UPSTREAM PETROLEUM SECTOR 15 2.1 COVID-19 and Related Developments 15 2.1.1 Developments in the economy, work obligations and operations 15 2.1.2 Developments in the Investment Climate 16 2.1.3 Developments in Local Content and Local Participation 17 2.1.3.1 Status of the Local Content Fund 17 2.2 Developments in the Policy, Legal, and Regulatory Environment 18 2.3 Exploration
    [Show full text]
  • ZEEBRIEF#10 6 Augustus 2011
    ZEEBRIEF#10 6 augustus 2011 AALSMEERGRACHT 9044748, 13-11-1992 opgeleverd door IHC Holland N.V. Dredgers, Kinderdijk (CO1198) aan C.V. Scheepvaartonderneming “Aalsmeergracht”, Amsterdam, in beheer bij Spliethoff's Bevrachtingskantoor B.V. 27-12-1999 tijdens een reis van Noorwegen naar Las Palmas, geladen met hout, ging bij Ushant Island de lading schuiven, besloten om Brest binnen te lopen, 27-12-1999 daar gearriveerd voor het overnieuw stuwen van de lading, 29-12-1999 vertrokken naar Las Palmas. 11-2005 bij het Deense eiland Samsø 10.000 ton kolen overgenomen uit de daar op 11 november 2005 aan de grond gelopen bulkcarrier EVER MIGHTY. 1-8-2011 te Newcastle N.S.W. herdoopt TASMAN SPIRIT. (Foto: Scheepsfotoruilbeurs, 16-4-1993, Nieuwe Waterweg). ANGELINA 5111347 van J.A.C. van Rompu, Terneuzen, 12-1910 opgeleverd door N.V. Werf "Zeeland", Hansweert (25), 362 BRT, 259 NRT, 500 DWT, schoener met hulpvermogen, 33 PK Kromhout, 1913 ingebracht bij N.V. Zeemotorschip "Angelina", Terneuzen, in beheer bij J.A.C. van Rompu, 1916 verkocht aan Skibs A/S Stjernen Sarpsborg-Noorwegen, in beheer bij Herman Jacobsen & Co., herdoopt STJERNE, 1916 verkocht aan Skibs A/S Activ I, Larvik-Noorwegen, in beheer bij W. Archer, herdoopt AKTIV I, 1917 verkocht aan Skibs A/S Activ I, Sandefjord-Noorwegen, in beheer bij J. Rasmussen, 1922 verkocht aan J.S. Schwartz A/B Norrköping-Zweden, in beheer bij D. Arwidsson, herdoopt GETÅ II, 1924 verkocht aan Fabrica Nacional de Papel, Montevideo-Uruguay, herdoopt F.N.P., 197- verkocht aan Fluviamar S.A., Montevideo-Uruguay, herdoopt EL CEIBO, 1984 verkocht aan Branson S.A., Montevideo-Uruguay, herdoopt BRANSON, 1987 verkocht aan El Maizal S.A., Montevideo-Uruguay, 1988 verkocht aan Dranor S.A., Montevideo-Uruguay, 1992 verkocht aan Argrodind.
    [Show full text]
  • ENERGY ADVISOR a WEEKLY PUBLICATION of the DIALOGUE December 11, 2020
    LATIN AMERICA ADVISOR ENERGY ADVISOR A WEEKLY PUBLICATION OF THE DIALOGUE www.thedialogue.org December 11, 2020 BOARD OF ADVISORS FEATURED Q&A TOP NEWS Nigel Blackaby Global Head, RENEWABLES International Arbitration Group, Freshfields Bruckhaus Deringer What Is the Outlook Petrobras Working Mary Rose Brusewitz Member, on Green Diesel, Clark Hill Strasburger for Bolivia’s Energy Niche Refining Jeffrey Davidow Brazilian state oil company Petro- Senior Counselor, The Cohen Group Policy Under Arce? bras is developing green diesel as well as other niche refining Jonathan C. Hamilton Partner, businesses as it aims to curb its White & Case greenhouse gas (GHG) emissions. Renewable diesel reduces GHG Ana Heeren Managing Director, emissions by around 70 percent FTI Consulting as compared to conventional Raul Herrera diesel, Petrobras said. Partner, Page 2 Corporate & Securities Practice, Arnold & Porter OIL & GAS James R. Jones Chairman, Exxon Could Monarch Global Strategies Jorge Kamine Install Up to 10 Partner, The government of Bolivian President Luis Arce, which took office last month, is facing dwin- dling reserves and exports of natural gas. // File Photo: Bolivian Government. FPSOs in Guyana Corporate & Financial Services, Willkie Farr & Gallagher ExxonMobil could install as many as 10 floating production, storage Craig A. Kelly Among the challenges facing new Bolivian President and offloading (FPSO) vessels in Senior Director, Luis Arce is a declining level of natural gas exports. The Americas Int’l Gov’t Relations, the Stabroek block by 2026. Exxon Mobil country’s gas exports to Brazil and Argentina are estimated Page 2 Jorge León Q to be about nine billion cubic meters this year, and they are Energy Economist, BP expected to decline to a third of that level by 2025, according to a report RENEWABLES Jeremy Martin by Rystad Energy.
    [Show full text]
  • The Electricity Situation in Ghana: Challenges and Opportunities
    The Electricity Situation in Ghana: Challenges and Opportunities Ebenezer Nyarko Kumi1 Abstract In the past decade, Ghana has experienced difficult for the utility companies to recover severe electricity supply challenges costing the cost of electricity production. the nation an average of US $2.1 million in loss of production daily. This situation has In the face of these challenges, however, developed even though installed generation Ghana could achieve universal access by capacity has more than doubled over the the year 2020 with an annual electrification period; increasing from 1,730 MW in 2006 rate of about 4.38 percent. 82.5 percent to 3,795 MW in 2016. The peak electricity of Ghana’s population had access to demand only increased by 50 percent during electricity by 2016. Solving Ghana’s this same period, increasing from 1,393 MW electricity challenges would require measures in 2006 to 2,087 MW in 2016. The electricity including, but not limited to, diversifying supply challenges can be attributed to a the electricity generation mix through the number of factors, including a high level development of other hydro power and of losses in the distribution system, which renewable energy sources for which the is mainly due to the obsolete nature of country has huge potential, expanding the distribution equipment, as well as non- prepaid metering system to include all public payment of revenue by consumers. Other and private institutions, restructuring the factors are overdependence on thermal tariff regime to ensure utilities can recover and hydro sources for electricity generation their cost of generation, and promoting and a poor tariff structure, which makes it energy efficiency programs.
    [Show full text]
  • KARPOWERSHIP Energy Flagship of Karadeniz Holding
    KARPRESENTATIONPOWERSHIP October, 2017 Confidential KARPOWERSHIP Energy Flagship of Karadeniz Holding ONE OF THE LEADING INTEGRATED ELECTRICITY IN-HOUSE EXPERIENCE AND HOLDING COMPANIES GENERATION AND TRADE COMPANY KNOW-HOW • Established in 1948 • Developer of Powership concept In-house experience and capabilities; • 2,200+ employees • Current installed capacity domestic and • Design and Construction international in excess of 3,000 MW • Global reach • Operation and Maintenance • First electricity exporter in Turkey • Active in various industries: • Fuel Management Energy, Finance, • Site Preparation Real Estate, Tourism • Contract Management DOMESTIC MARKET General Information • Generation capacity: 454 MW 264 MW in operation 190 MW under construction • The first private wholesale company and cross border electricity trader • 24 MW of the geothermal electricity generation is operational • 10 MW of solar power plant is under construction • 140 MW of geothermal power plant is under construction • Domestic generation portfolio includes: • Natural Gas • Heavy Fuel Oil • Geothermal • Solar • Received the following awards from Istanbul exporters associations: • First place 2006, 2010 • Second place 2008 • Third place 2007, 2009, 2014 INTERNATIONAL MARKET POWERSHIP WHAT IS POWERSHIP? • A floating power plant, either self propelled or barge mounted • Can operate on both Natural Gas/LNG and Heavy Fuel Oil • Has the lowest cost of electricity and highest efficiency • Delivered in 90 - 180 days ready to generate electricity INTERNATIONAL MARKET
    [Show full text]
  • Karadeniz Powership Doğan Bey Arrives in Sierra Leone
    Press Release December 2017 Karadeniz Powership Doğan Bey Arrives in Sierra Leone Powership (floating power plant) will provide economically attractive power generation in the shortest timeframe direct to grid substation Freetown, Sierra Leone Freetown, Sierra Leone – Karpowership announces the arrival of Karadeniz Powership Doğan Bey to Sierra Leone, where it will start operating from its offshore location directly into the grid substation during January 2018. The arrival of Karadeniz Powership Doğan Bey is in consonance with the Utility Grid Infrastructure and Electricity Supply Agreement signed with Sierra Leone’s Electricity Distribution and Supply Authority, Ministry of Energy, and Ministry of Finance and Economic Development, requiring Karpowership to provide 30 MW base load capacity, directly feeding into the national grid for 5 years. All administrative and safety preparations are being completed for mooring and anchoring the Powership, which will be followed connecting directly to the Kingtom substation, in readiness for power production. Speaking on the occasion of arrival of the Powership, Minister of Energy, Ambassador Henry O. Macauley stated that this project is important for the stability of the country’s national grid as the energy demand grows each day. He also added that Karpowership and its ability to deploy fast track utility sized Powerships on a turnkey basis undoubtedly addresses the short term and immediate requirements with economical and flexible solutions for countries with energy needs. The Powership will have a significant contribution to the country’s electricity supply whilst providing training and knowledge transfer through the creation of local in country employment and capacity building. As a strategic partner, Karpowership is committed to Sierra Leone’s social and economic development and continue providing reliable, sustainable, and affordable electricity.
    [Show full text]