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Turkish-Japanese floating energy unit secures $71m loan from Japanese banks

Turkish Foreign Minister Mevlut Cavusoglu (C) poses for a photo as he attends the Technical Cooperation Agreement Signing Ceremony between the Turkish Government and Japanese Government at the Foreign Ministry Building in Ankara, Turkey on October 13, 2020 [Fatih Aktaş/Anadolu Agency]
Turkish Foreign Minister Mevlut Cavusoglu (C) poses for a photo as he attends the Technical Cooperation Agreement Signing Ceremony between the Turkish Government and Japanese Government at the Foreign Ministry Building in Ankara, Turkey on October 13, 2020 [Fatih Aktaş/Anadolu Agency]

Turkish and Japanese floating energy unit has secured financing from the Japan Bank for International Cooperation (JBIC) and MUFG Bank, Ltd., to finance a floating storage and regasification unit (FSRU) in Senegal, local Turkish media reports.

According to Turkish media, the loan agreement was signed between two sides for an amount of up to $71 million.

With more than 25 years of experience, Turkish company, Karpowership, has a fleet of 36 power ships operating on four continents with a capacity of 6 gigawatts, the report added.

The floating energy units can connect directly to a country's electricity grid, leveraging existing infrastructure.

READ: Turkey to boost relations with Japan, Cavusoglu says

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