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The Commercial Bank of Mauritius has provided $ 60 million in funding for the use of the world's first floating power plant in Senegal, developed under the Black Sea Holding. The floating storage and re-gasification unit, produced by the Turkish-Japanese joint venture Karmol, will begin supplying Senegal with electricity generated by liquid natural gas (LNG) offshore for the first time in June.

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İSTANBUL (TR) - The West African country of Senegal has contracted Karmol, a joint venture of Karpowership, a subsidiary of Black Sea holding, with Japan's Mitsui OSK Lines (MOL), to meet its electricity needs. The 182-year-old Mauritius Commercial Bank has announced it will provide a $ 60 million loan to finance a $ 140 million “floating power plant” project based on electricity generation via ship without cost of establishment. As part of the project, Karpowership's Powership, which contributes about 15% of Senegal's electricity needs since August 2019, will switch from heavy fuel to liquid natural gas in electricity generation. Karmol's first floating storage and gasification unit (FSRU) will provide the country of 13 million people with electricity generated from liquid natural gas for the first time in June.

In Senegal, 69% of the population have access to electricity

According to the Africa Energy Outlook 2019 report, the population's access to electricity across Senegal is 69%. This figure is 92% in cities, while 42% in rural areas. The state of Senegal aims to increase the population's access to electricity to 100% by 2025. To achieve this, it also focuses on reducing dependence on imported liquid fuels and reducing electricity generation costs by increasing electricity access rates in rural areas. Providing electricity to areas outside urban areas is 7th among the United Nations Sustainable Development Goals. it also parallels accessible and Clean Energy, which is next. Karpowership's switch to gas-fired Powership will deliver a significant reduction in fuel costs, not just electricity. Karmol LNGT Powership Africa, the first power generation plant to run on liquid natural gas, is also the basis of Senegal's plan to diversify its energy resources. 13 on gas use, climate change. In line with the Sustainable Development Goal, Senegal's carbon emissions will also decrease.

“We are on the side of green power plants in electricity generation”

"We are proud to contribute to Senegal's national goal of access to electricity and the country's transition from heavy fuel use to the use of liquefied natural gas (LNG) for electricity generation," said Zaahir Sulliman, head of Specialized Finance at the Commercial Bank of Mauritius. We are aware that we all have important responsibilities regarding the climate crisis we are experiencing. Therefore, we aim to stop commercial financing of both thermal and metallurgical coal as well as new coal plants by 2022. The funding we provide to Karpowership is the first of our steps in this direction. With the goal of raising living standards, we will increase energy production on the one hand and take more part in climate and environmentally friendly projects on the other,” he said.