International

Power Restored in Guinea-Bissau’s Capital After Debt Payment to Karpowership

Electricity has been restored in Guinea-Bissau’s capital following the government’s payment to Turkish company Karpowership, which had cut off the power supply due to an outstanding debt of $17 million. Karpowership suspended electricity supplies to Guinea-Bissau for 1.5 days as fuel suppliers halted their work due to unpaid bills.

Karadeniz Powerships KPS Orka Sultan and KPS Orhan Ali Khan are pictured at Altinova port in the Gulf of Izmit, Turkey May 28, 2023. REUTERS/Yoruk Isik/File Photo

Economy Minister Suleimane Seidi announced that $6 million out of the $15 million in arrears owed by the Electricity and Water Company of Guinea-Bissau has been settled. Karpowership expressed gratitude for the government’s efforts to resolve the fuel payments, allowing them to swiftly resume operations and continue providing electricity to the people of Guinea-Bissau.

Karpowership, a major operator of floating power plants globally and part of the Karadeniz Energy Group, has been supplying 100% of Guinea-Bissau’s electricity needs since signing an agreement in 2019.

The company has also agreed to renegotiate with the government to prevent future payment issues. In September, Karpowership disconnected the electricity supply to Sierra Leone’s capital, Freetown, due to an unpaid debt of approximately $40 million.

Source: Reuters

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