Karpower International B.V. and Mitsui O.S.K. Lines, have reached a deal with Japan Bank for International Cooperation and MUFG Bank, to finance a floating storage and regasification unit in Senegal.
JBIC and MUFG Bank signed the loan agreement on December 30, 2022, with KARMOL, through Senegal LNGT Company Limited, for an amount up to $71 million. The FSRU will supply regasified liquefied natural gas (LNG) to a Karpowership floating power plant, known as a Powership, in Senegal.
MOL and Karpowership will continue to provide power generation solutions around the world through environment-friendly LNG-to-Powership business, known as KARMOL.
This loan will promote business development in emerging countries including Africa. KARMOL is committed to providing reliable and uninterrupted power to the region.