{"id":31086,"date":"2023-10-17T23:04:25","date_gmt":"2023-10-17T23:04:25","guid":{"rendered":"https:\/\/prosfunds.com\/markets\/commodities\/guinea-bissau-capital-in-darkness-after-turkish-firm-cuts-power-supply\/"},"modified":"2023-10-17T23:04:26","modified_gmt":"2023-10-17T23:04:26","slug":"guinea-bissau-capital-in-darkness-after-turkish-firm-cuts-power-supply","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=31086","title":{"rendered":"Guinea-Bissau capital in darkness after Turkish firm cuts power supply"},"content":{"rendered":"
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BISSAU (Reuters) -Guinea-Bissau’s capital was plunged into darkness on Tuesday after Turkish company Karpowership cut off electricity supplies to the West African nation due to an unpaid debt of $17 million, the economy minister said.<\/p>\n

Minister Suleimane Seidi said arrangements were under way to pay $15 million of arrears owed by the Electricity and Water Company of Guinea-Bissau and promised the issue would be resolved within 15 days.<\/p>\n

Karpowership, one of the world’s largest operators of floating power plants and part of the Karadeniz Energy Group, has been supplying 100% of Guinea-Bissau’s electricity needs since signing a deal in 2019, according to its website. <\/p>\n

“Karpower has agreed to renegotiate with the government to ensure that the backlog does not become a problem,” Seidi said at a press conference.<\/p>\n

In a statement on the situation in Guinea-Bissau, a Karpowership spokesperson said: “Unfortunately, following a protracted period of nonpayment, our (floating power plant) is now unable to continue operating.”<\/p>\n

“We are working around the clock with officials to resolve this issue, and we aim to have generation back online as soon as possible,” the statement said.<\/p>\n

In September, Karpowership switched off the electricity supply to Sierra Leone’s capital Freetown due to an unpaid debt of around $40 million.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

BISSAU (Reuters) -Guinea-Bissau’s capital was plunged into darkness on Tuesday after Turkish company Karpowership cut off electricity supplies to the West African nation due to an unpaid debt of $17 million, the economy minister said. Minister Suleimane Seidi said arrangements were under way to pay $15 million of arrears owed by the Electricity and Water […]<\/p>\n","protected":false},"author":1,"featured_media":3854,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[34],"tags":[],"class_list":{"0":"post-31086","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-commodities"},"yoast_head":"\nGuinea-Bissau capital in darkness after Turkish firm cuts power supply | Prosfunds<\/title>\n<meta name=\"description\" content=\"BISSAU (Reuters) -Guinea-Bissau's capital was plunged into darkness on Tuesday after Turkish company Karpowership cut off electricity supplies to the West\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/prosfunds.com\/?p=31086\" 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