Karpowership

What Karpowership does

Karpowership, operating under Turkish holding company Karadeniz Holding A.\u015e., designs, builds, owns, and operates the world's largest fleet of floating power plants (Powerships). The proprietary Powership platform delivers plug-and-play electricity generation at capacities ranging from 30 MW to 500 MW per vessel, with multiple classes (Seal, Mermaid, Shark, Orca, Khan, and the next-generation 300 MW Sea Lion) deployable in under 30 days. Complementary infrastructure includes LNG Terminal Ships (LNGTS) for storage and regasification (63-450 mmscfd), LNG carriers, and integrated LNG-to-Power solutions spanning procurement through delivery. Specialized vessels extend the platform: Watership integrates desalination (up to 12,000 m\u00b3/day) with power generation; Lifeship provides emergency-aid floating villages; and Intelliship targets AI data centers with closed-loop carbon capture using natural gas enriched with hydrogen and ammonia.

Revenue is generated primarily through long-term Power Purchase Agreements (PPAs) of 2-25 years with national governments and state-owned utilities across 20+ countries in Africa, the Americas, Asia-Pacific, and MENA, structured as managed-services capacity leases with capacity charges and energy delivery fees. Government-to-business direct sales dominate the go-to-market model, with regional offices in Istanbul, Amsterdam, Dubai, Rio de Janeiro, and Singapore supporting client engagements. Secondary revenue streams include LNG supply and trading, FSRU and LNGTS chartering, and one-time vessel construction (Sea Lion class at HSG Sungdong, FSRU conversions at Seatrium). Customer base is overwhelmingly sovereign (ECG Ghana, SENELEC Senegal, NAWEC Gambia, CENACE Mexico, EdM Mozambique, PLN Indonesia, etc.), with limited industrial customers (e.g., SLN-Eramet in New Caledonia). Reported metrics include 45 vessels, 8,000+ MW total installed capacity against a stated 21,000 MW target, 63 billion+ kWh cumulative electricity delivered, and ~3,000 employees across 26+ nationalities. The company remains privately held under family control with no institutional venture or private-equity ownership on record, transitioning to institutional debt financing in 2025 via a $400 million syndicated portfolio facility arranged by Mauritius Commercial Bank.

Name

Karpowership

Legal name

Karadeniz Holding A.Ş.

Website

https://karpowership.com

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Karpowership, a Karadeniz Holding subsidiary, designs, owns, and operates the world's largest fleet of floating power plants (Powerships), delivering 30-500 MW turnkey electricity generation to governments and state utilities under 2-25 year PPAs across 20+ countries, supplemented by LNG terminal ships, LNG-to-Power infrastructure, and adjacent solutions for desalination and AI data centers.

Ownership category

akta.pro rank

Product category

Floating Power Generation Services

NAICS

Electric Power Generation (22111), Electric Power Generation, Transmission and Distribution (2211)

SIC

Engines & Turbines (3510), Motors & Generators (3621), Cogeneration Services & Small Power Producers (4991), Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

Utility-Scale Generator PPAs (Project Offtake) (EUAGADAB)

akta.pro secondary industry

Utility-Scale Power Generation Asset Management (EUAEAMAA)

Keywords

• Floating power plants
• Powership energy solutions
• LNG-to-power infrastructure
• Mobile electricity generation
• Energy transition services

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Power Generation Capacity Leasing: Karpowership owns, operates, and maintains floating power plants under long-term Power Purchase Agreements (PPAs) with governments and state utilities. Revenue is generated through capacity charges and energy delivery fees. Contracts typically span 2-25 years with options for extension and expansion.
2. LNG Supply and Trading: Integrated LNG procurement and supply chain services including liquefaction, storage, and transfer. The company actively trades in LNG markets and provides fuel supply solutions to support powership operations and third-party power plants.
3. FSRU/LNGTS Chartering Services: Flexible chartering options for LNG Terminal Ships and LNG Carriers, allowing clients to access LNG assets without capital investment. Covers short-term projects and long-term energy supply contracts.
4. Vessel Construction and Delivery: Construction of new Sea Lion class powerships at HSG Sungdong shipyard in South Korea for fleet expansion, with four vessels scheduled for delivery between January and May 2028.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

Karpowership designs, owns, and operates patented floating power plants (Powerships) ranging from 30 MW to 500 MW that are commissioned in under 30 days, alongside integrated LNG assets (LNG Terminal Ships and LNG Carriers), and complementary floating solutions for data center power (Intelliship), desalination (Watership), and emergency aid (Lifeship). The company supplies electricity capacity under long-term PPAs to governments, state utilities, and industrial customers across 20+ countries.

Product overview

Karpowership is an integrated energy transition company offering a diversified portfolio of floating power and LNG infrastructure solutions. The core product is the Powership (patented floating power plant technology) available in six classes: Khan (up to 470 MW), Orca (200-260 MW), Shark (110-240 MW), Mermaid (70-80 MW), Seal (34-40 MW), and Sea Lion (300 MW, next-generation). Complementing Powerships are LNG assets including LNG Terminal Ships (LNGTS) for regasification and LNG Carriers for transport. The company also offers specialized vessels: Intelliship for data center power, Watership for desalination, and Lifeship for emergency aid. Green Energy Technologies encompass renewables, alternative fuels, CCUS, and waste-to-power solutions. The integrated approach ranges from design and construction to operation and fuel management.

Differentiator

Problem solved

Functional benefit

Brands

• Powership: Floating power plant solutions ranging from 30 MW to 500 MW capacity, providing plug-and-play electricity generation.
• LNG to Power
• Intelliship
• Watership
• Lifeship
• Kinetics

Products and services

• Powership (Floating Power Plant) Patented plug-and-play floating power plant technology offered as ship- or barge-mounted, fully integrated mobile power stations with multi-fuel (HFO, diesel, natural gas) engines. Available in six capacity classes from 34 MW (Seal) to 500 MW (Khan) and a next-generation 300 MW Sea Lion class. Deployed under long-term PPAs with governments and utilities worldwide and commissionable in under 30 days.
• LNG to Power Integrated LNG-to-Power solutions combining liquefied natural gas procurement, storage, regasification, and power generation, including conversion of existing Powerships to operate on LNG and development of fully integrated LNG-to-Power projects for clients.
• LNG Terminal Ship (LNGTS) Floating LNG terminal combining storage, regasification, and gas delivery in a single platform. Capacities range from 126,296–127,475 cubic meters with regasification rates of 63–450 mmscfd, equipped with closed-loop regasification systems and spread mooring technology for offshore LNG reception and supply to power plants or pipelines.
• LNG Carrier (LNGC) Fleet of LNG Carriers with membrane GT No.96 containment systems and steam propulsion for safe and reliable LNG transportation, serving both onshore and offshore energy requirements.
• Intelliship (Carbon-Zero Data Center Solution) Self-sufficient, environmentally friendly floating platform designed to deliver carbon-zero power to AI and data center customers using natural gas enriched with hydrogen and ammonia, with a circular closed-loop carbon capture and storage system sequestering CO2 into depleted gas wells.
• Watership (Combined Power and Desalination) Floating power plant with integrated Sea Water Reverse Osmosis (SWRO) desalination capability, equipped with 12 SWRO units producing up to 12,000 cubic meters of fresh water daily while simultaneously delivering electricity.
• Lifeship (Emergency Aid Vessels) Self-sufficient emergency aid vessels functioning as floating villages, providing shelter, medical assistance, childcare, education, and social support for more than 1,500 people per vessel in disaster relief scenarios without requiring onshore infrastructure.
• Green Energy Technologies Portfolio of sustainable energy technologies including renewable generation (geothermal, solar), alternative fuels (renewable natural gas, hydrogen, ammonia), carbon capture usage and storage (CCUS), and waste-to-power solutions to support decarbonization of the power mix.

Quantifiable outcome

• Up to 500 MW capacity deployed within 30 days
• +4 more outcomes

Named customers22 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Ten partnerships are on record, tiered core, exploratory, strategic and minor.

• KineticscoreOthers · 8 July 2026Kinetics is a Karpowership initiative developing floating LNG infrastructure. Currently constructing first next-generation FSRU (LNGT Karadeniz) at Seatrium's Tuas Boulevard Yard in Singapore with 600 mmscfd regasification capacity. Partnership with Seatrium for multiple FSRU projects including newbuild and conversions.
• Kenya GovernmentexploratoryStrategic or Co-development Partner · 26 May 2026Early-stage discussions with Kenya for potential emergency power supply deployment to address electricity shortages. Discussions may not result in definitive agreement.
• CENACE (Mexico Grid Operator)coreStrategic or Co-development Partner · 18 May 2026Partnership with Mexico's independent systems operator for 250 MW LNG-to-power project in Yucatán Peninsula. Project includes deployment of powership alongside LNG terminal vessel to address seasonal blackouts.
• Mexico Government (Claudia Sheinbaum Administration)coreStrategic or Co-development Partner · 18 May 2026Partnership under President's strategy to attract private capital back into Mexico's energy sector. Government planning 34% increase in public and private investment compared to 2025.
• SeatriumcoreStrategic or Co-development Partner · 9 March 2026Long-term strategic partnership for FSRU conversions and LNG-to-power solutions. Seatrium has completed multiple FSRU conversions for Karpowership, with projects including LNGT Turkiye conversion and three LNG carrier conversions into FSRUs. Partnership extending to cover FLNGs, floating batteries, data centers, and desalination vessels.
• AmogystrategicStrategic or Co-development Partner · 2 December 2025Strategic investment and partnership to develop ammonia-based clean power technologies for floating power plants and digital infrastructure. Collaboration aims to deploy ammonia-to-power solutions for zero-emission floating power systems supporting AI data centers.
• EDF Power SolutionsexploratoryStrategic or Co-development Partner · 8 October 2025Karpowership among five groups considering acquisition of EDF's Norte Fluminense thermal power plant (827 MW) in Brazil ahead of capacity auction.
• Mitsui OSK LinesminorStrategic or Co-development Partner · 29 July 2025MoU signed with Karpowership subsidiary Kinetics to deploy 20-73MW floating data center on retrofitted car carrier by 2027.
• A*Star (Singapore's Agency for Science, Technology and Research)minorStrategic or Co-development Partner · 5 May 2025Non-binding MoU for demonstration project on Jurong Island deploying ammonia-to-power technology expected operational by end of 2027. Part of Kinetics-Amogy collaboration advancing Singapore's hydrogen goals.
• One World Karadeniz FoundationcoreOthers · 22 April 2023Philanthropic arm established to consolidate CSR projects and amplify social impact. Projects span education, reforestation, renovation, and charitable donations in operating communities globally.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Wärtsilä: Wärtsilä is a Finnish manufacturer of marine engines and decentralized power plants — supplying the same dual-fuel engine technology that underlies many powerships and operating its own engine-based IPP projects. Broader portfolio (marine, service, lifecycle) but directly comparable technology and customer overlap in emerging-market utilities.
• GE Vernova: GE Vernova is the broad incumbent in power generation equipment and services, including gas turbines (LM2500, LM6000) used in marine and floating power applications and grid solutions. Overlaps with Karpowership on equipment supply, project development services, and emerging-market utility customers.
• Caterpillar (CAT): Caterpillar manufactures large diesel and gas generator sets used in distributed power generation and marine applications — a potential alternative or supplement to MAN/Wärtsilä engines in powerships. Comparable customer base in industrial, mining, and utility-scale backup/prime power segments globally.
• Siemens Energy: Siemens Energy provides gas turbines, steam turbines, generators, and grid technology for utility-scale power generation globally — overlapping with Karpowership on combined-cycle gas turbine technology (used in Sea Lion class) and emerging-market utility customers, but as a broad incumbent equipment OEM rather than a project developer/operator.
• Mitsubishi Heavy Industries: Mitsubishi Heavy Industries supplies gas turbines, steam turbines, and LNG carriers and is a major player in large-scale thermal and LNG infrastructure. Overlaps with Karpowership's LNG-to-power and turbine-based powership technology; comparable emerging-market utility customer relationships.
• MAN Energy Solutions (Everllence): MAN Energy Solutions (rebranded Everllence in 2026) is Karpowership's heavy engine supplier and a major manufacturer of large-bore diesel and gas engines for marine propulsion and power plants. Karpowership is identified as a major client; comparable technology stack and customer base in distributed thermal generation.

Direct peers

• Aggreko: Aggreko is the closest direct peer — it rents temporary and mobile power generation (typically diesel/gas) to utilities, industrial customers, and event organizers globally. It serves a similar use case (rapid deployment without permanent infrastructure) but uses land-based containerized units rather than ships, and is broader across events/industrial use cases.
• APR Energy (now part of GE Vernova): APR Energy historically operated the largest fleet of utility-scale temporary gas turbine power plants under multi-year PPAs with emerging-market utilities — the closest analog to Karpowership's powership PPA model. Acquired by GE in 2020, the business now sits within GE Vernova's grid solutions segment.

Emerging players

• BW LNG / BW Energy: BW LNG operates one of the world's largest fleets of LNG carriers and offers FSRU chartering services — overlapping with Karpowership's LNGTS/FSRU business and integrated LNG-to-power offering. An adjacent player in floating LNG infrastructure with growing presence in regasification-as-a-service.

Others

• Seatrium: Seatrium is Karpowership's core shipyard partner for FSRU conversions and LNG-to-power solutions in Singapore, with multiple ongoing projects (LNGT Turkiye, three FSRU conversions, LNGT Karadeniz newbuild). A strategic supplier/partner rather than a competitor — comparable maritime engineering and offshore energy capability.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks1 record

Key highlights7 records

Customer concentration

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Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries11 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Karpowership