MCB Leads USD 400 Million Syndicated Facility to Boost Karpowership’s African Operations
The Mauritius Commercial Bank (MCB) has successfully led a USD 400 million syndicated facility for Sea World Energy Holdings Limited, an affiliate of the Karpowership Group, marking a major milestone in Africa’s energy financing landscape.
The deal consolidates Karpowership’s growing operations across Africa and reinforces MCB’s position as a leading regional financier in power and infrastructure projects. According to the bank, the transaction received strong interest from multiple lenders and closed at the targeted amount.
Karpowership, a pioneer in floating power generation, operates a fleet of 40 Powerships with a combined installed capacity of 8,000MW across 14 countries spanning Africa, South America, and Asia. The company deploys ship-mounted power plants that can supply electricity quickly and flexibly, especially in markets facing energy deficits.
MCB structured the facility as a portfolio financing model, leveraging a pool of signed Power Purchase Agreements (PPAs) held by Karpowership across African markets. This arrangement gives the company the financial flexibility it needs to strengthen liquidity and expand its energy generation capacity across the continent.
Speaking about the deal, Mathieu Delteil, MCB’s Global Head of Structured Finance, said the bespoke financing solution reflects the bank’s commitment to supporting innovative energy models on the continent.
MCB further highlighted that the transaction aligns with its long-term strategy of enabling large-scale power and infrastructure projects that drive Africa’s growth.
Youri Harel, Head of Specialised Finance at MCB, emphasized that the partnership with Karpowership aims to advance Africa’s electrification agenda and enhance the bank’s leadership in complex infrastructure financing.
Karpowership executives praised the collaboration, noting that the facility strengthens their capital structure and improves liquidity management.
Tuğrul Öz, the Group’s Finance Executive Director, said the financing will support the company’s expanding portfolio and reinforce its long-standing partnership with MCB.
