KARPOWERSHIP OFFICIALLY RESPONDS TO FAKE NEWS AND ALLEGATIONS REGARDING ITS OPERATIONS IN THE REPUBLIC OF LEBANON

In light of the ongoing and orchestrated campaign including fake news regarding the Powerships, it has become necessary to reiterate facts and to further relay some important evidences to the good people of Lebanon.

 

First of all, it is important to remind that Karpowership operates in Lebanon after having won a tender in 2012, which got the unanimous approval from the Council of Ministers presided at that time by PM Najib Mikati. This tender was won by Karpowership after having ensured the lowest price among several bidders from all over the world, including but not limited to American and British ones.

 

Second, and as per the Lebanese Council of Ministers’ decision number 84, dated May 21, 2018 the Karpowership contract has been extended for three years. By virtue of this extension, EDL and the Lebanese Ministry of Energy and Water got very attractive rates for the 2 Powerships located in Zouk and Jiyeh and delivering a total capacity of 370 MW.

 

Karpowership is thus proud to maintain its position as one of the cheapest and the most reliable sources of electricity in Lebanon. As a matter of fact, Karpowership’s cost of electricity is lower than all other existing generations in the country, including old plants, private generators, and imports from Syria.

 

Furthermore, the claims circulating recently are also mentioning completely incorrect information pertaining to our contract. Some claims even mention a contract value of 1,8 Billion USD. Karpowership publicly mentioned on numerous occasions and repeats it today, that the annual value of its contract is 142 million US Dollars only. All other exaggerated figures circulating are completely erroneous. Karpowership also reminds that it is not renting out its Powerships but is rather providing electricity generation measured and paid to us as per EDL’s electricity meters.

 

It is also worth mentioning that Karpowership is supplying around 25% of the total electricity in Lebanon and having the cheapest price amongst all other Karpowership’s client countries in the world.

Additionally, Karpowership reminds that, in order to express gratitude and to honor the long-lasting relationship with Lebanon, the company had offered a 200 MW Powership free of charge to EDL during the summer peak period of 2018. This gesture allowed to increase the electricity generation capacity during the summer months for EDL.

 

Along the same lines, Karpowership is keen to point out that it is operating its Powerships in Zouk and Jiyeh in compliance with the highest environmental and safety standards set by the World Bank and the ISO 14001 and applied worldwide. The Powerships are also able to convert swiftly from fuel oil to gas and thus able to adapt to operating with any source of energy. The company is proud to   supply the Lebanese people with reliable and economic electricity.

 

At last, Karpowership is committed to execute its obligations with the Government of Lebanon and to sustain the Energy Project in accordance with the existing contract approved by the council of ministers, providing an electricity capacity of 370 MW through the two Powerships Fatmagül Sultan and Orhan Bey in both Zouk and Jiyeh plants at significant savings in the most reliable manner.

 

In view of the above, Karpowership urges all media and public figures in Lebanon to communicate with its official representatives prior to relaying any news concerning its activities. The company also perfectly respects the Lebanese laws and regulations, and all of its activities are in strict compliance with them. Karpowership stands at the disposal of Lebanese authorities and maintains its right to initiate legal actions if needed to stop any defamatory or misleading information touching its reputation.

 

 

 About Karpowership

Karpowership is the owner, operator and builder of the only Powership™ (floating power plant) fleet in the world and plays an active role in medium to long-term investments; providing access to fast-track, affordable and reliable electricity. Powerships have a range of 30 MW to 470 MW and are delivered ready to operate in less than 60 days. Currently, Karpowership owns and operates 22 Powerships with an installed capacity exceeding 3,500 MW and another 5,000 MW are under construction or in the pipeline. In addition to a Powership fleet, Karpowership owns and operates its own LNG fleet.  With expertise and experience in the field, Karpowership serves as a one-stop-shop for LNG to Power solutions, as a single provider delivering all parts of the value chain; including but not limited to LNG sourcing, transport, delivery, regasification, and electricity production; with the mission of powering life wherever needed. With more than 2,500 employees globally; Karpowership is operational in Indonesia, Lebanon, Mozambique, Ghana, Sierra Leone, Guinea Bissau, Gambia, Senegal and the Caribbean. For more information on how Karpowership powers life, please visit: www.karpowership.com

 

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