IFC Could Fund Controversial Gas-Power Ships in South Africa
- World Bank Group considers projects that displace oil, coal
- LNG-fueled Karpowership is set to win bulk of power tender
Karpowership company's shipyard with powerships in Yalova.
Photographer: Ozan Kose/Getty ImagesThis article is for subscribers only.
The World Bank’s International Finance Corp. said it expressed interest in funding bidders in a South African tender for emergency power provision, including a Turkish supplier of gas-fired power plants on ships, putting it on course for a clash with climate activists.
Karpowership, the Istanbul-based company, won the bulk of the bids in March and has until the end of July to secure funding and necessary approvals and agreements to make binding a pact to supply 1,220 megawatts of power for 20 years.