Turkish-Japanese joint venture secures $71M loan from Japanese banks

Turkish aviation power company Karpowership and Japan’s Mitsui OSK Lines joint venture KARMOL has secured funding from the Japan Bank for International Cooperation ( JBIC) and MUFG Bank, Ltd. to finance a storage and recovery unit (FSRU) in Senegal, the Turkish company. said in a statement Friday.

The loan agreement was signed on December 30, 2022, it said, with KARMOL, through the Senegal LNGT Company Limited, for an amount of up to $71 million.

The FSRU will deliver liquefied natural gas (LNG) to the Karpowership floating power plant in Senegal.

One of the largest companies in the world of floating power plants, Karpowership, owned by the Turkish conglomerate Karadeniz Holding is a pioneer behind floating power plants.

With more than 25 years of experience, Karpowership has a fleet of 36 electric ships operating on four continents with a capacity of 6 gigawatts (GW).

Founded in 2019, KARMOL provides energy solutions worldwide through an environmentally friendly LNG-to-powership business.

It can be connected directly to the national electricity grid, using existing infrastructure.

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