The Solution to Europe's Energy Crisis is Floating Power

• Karpowership's floating power solutions can save Europe between 30%-60% on gas costs
  Up to 2,000 MW of power generation capacity available
• Dual-fuel enabled, installed with all infrastructure onboard (liquid fuel and natural gas)
• Can be deployed in as little as 30 days

LONDON, Sept. 7, 2022 /PRNewswire/ -- Europe's energy crisis has sent power prices across the continent skyrocketing, putting its businesses at risk of bankruptcy and pushing living costs for millions of consumers to unaffordable levels.

But one company has a solution that will slash Europe's energy costs, can be deployed almost immediately, and offers flexible, short-term contracts.

Karpowership's fleet of floating Powerships range in capacity from 36 MW-480 MW and are delivered ready to connect to a country's electricity grid in as little as 30 days.

Complete with storage facilities, high voltage sub-stations and mobile maintenance facilities, Powerships offer a stable power-generating platform to reduce Europe's need for costly imports. Depending on the country, savings on gas costs could range from 30%-60%.

Facilities are dual-fuel equipped, ensuring that when prices for pipeline gas and global liquefied natural gas (LNG) aren't competitive, they can also operate on more economical fuel oil, which is less than half the cost of running existing gas assets at current prices. For every 100 MW of Powership-produced electricity made using fuel oil, about 400 million euros a year can be saved.

Powerships are also delivered with all the necessary infrastructure already onboard, offering Europe a fully integrated, stable yet flexible alternative to intermittent and unreliable sources of electricity generation.

"The interruption of gas supply to Europe, tight global LNG markets, and Europe's increasing reliance upon intermittent sources of power generation have created a crisis that may last until 2026 – urgent solutions are needed,'' said Zeynep Harezi, Karpowership's Chief Commercial Officer. "Karpowership is affordable, flexible and can be deployed almost immediately, meaning we could be supplying millions of homes with cost-effective power before winter hits.''

Karpowership can also offer flexible contracts of as little as two years, so that when circumstances change, Powerships can be re-deployed where they are most needed.  

For more information on Karpowership and its fleet of floating power solutions, visit https://karpowership.com/en/

Media contact: Karen Kumbasar, Karen.Kumbasar@karpowership.com 

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