The financing supports the company\u2019s operations in C\u00f4te d’Ivoire, Ghana, Mozambique and Senegal, where its power ships supply critical electricity to national grids.<\/p>\n
The loan was arranged for Karpowership\u2019s affiliate, Seaworld Energy Holding, a newly established entity responsible for the group\u2019s African operations. MCB served as the sole mandated lead arranger, structuring the transaction and setting its terms before inviting other lenders to participate.<\/p>\n
<\/p>\n
Naginlal Modi, Executive Vice President for power and infrastructure financing at Mauritius Commercial Bank, told Channel Africa on Tuesday that the syndication was \u201cvery well received\u201d in the market.<\/p>\n
<\/p>\n
\u201cWe had significant interest from different lenders. The facility closed with three lenders, although interest exceeded that number,\u201d he said.
\nThe syndicate includes Swan from Mauritius, Ecobank, and Federated Hermes.<\/p>\n
<\/p>\n
Modi noted that the facility is the first major loan transaction for Seaworld Energy, with the financing backed by a pool of power-purchase agreements secured from West African national off-takers in countries such as Senegal and C\u00f4te d’Ivoire.<\/p>\n
<\/p>\n
The funds will support Karpowership\u2019s African operations, including capital expenditure for new power ships.<\/p>\n
<\/p>\n
Modi said the deal reinforces MCB\u2019s growing presence in Africa\u2019s energy and infrastructure sectors. The bank\u2019s power and infrastructure desk was established only five years ago.<\/p>\n
<\/p>\n
\u201cOver the years, we have recorded steady growth in our loan portfolio. We have supported blue-chip clients operating regionally and internationally on all their financing needs,\u201d he said.<\/p>\n
<\/p>\n
He added that MCB\u2019s ability to \u201cexplain the credit story\u201d and design bespoke solutions reflects its increasing capability to structure complex transactions.<\/p>\n
<\/p>\n
\u201cThere is no cookie-cutter solution in African infrastructure financing. Each borrower has its own needs. Understanding the client\u2019s business model and the terrain in which they operate is crucial,\u201d Modi said.<\/p>\n
<\/p>\n
Modi said the funding will directly contribute to the development goals of African countries facing chronic electricity shortages.
\nKarpowership\u2019s model is to provide emergency power relief in markets where outages disrupt economic activity.<\/p>\n
<\/p>\n
\u201cIn Africa, 600 million people still do not have electricity,\u201d he said. \u201cPower shortages reduce productivity. Many businesses must shut down, switch to diesel or stop operations entirely when power is unavailable.\u201d<\/p>\n
<\/p>\n
He said the company\u2019s ability to deploy immediate power solutions helps countries stabilise electricity supply, support local industries and minimise economic disruption.<\/p>\n
<\/p>\n
\u201cBy providing instant relief, they help countries remain electrified and support business continuity,\u201d he added.<\/p>\n
–ChannelAfrica–<\/p>\n
<\/p>\n","protected":false},"featured_media":15616,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-15615","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"The Mauritius Commercial Bank (MCB) has played a central role in securing a $400 million syndicated loan for Karpowership, the world\u2019s leading provider of floating power plants. ","published_date":null,"news_description":"The Mauritius Commercial Bank (MCB) has played a central role in securing a $400 million syndicated loan for Karpowership, the world\u2019s leading provider of floating power plants. ","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/15615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/15615\/revisions"}],"predecessor-version":[{"id":19777,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/15615\/revisions\/19777"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/15616"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=15615"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=15615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}