ISTANBUL, Aug. 20, 2025 /PRNewswire/ -- BKPS, a Karpowership affiliate, has signed a contract with Iraq's Ministry of Electricity and the General Company for Electric Energy Production / Southern to launch a new power generation project in Iraq, delivering rapid, reliable, and affordable electricity to strengthen the country's energy security.

The project will supply up to 590 MW of electricity through Karpowership's two signature Powership vessels. Under the agreement, the Company will provide electricity for an initial contract period of 71 days, playing a critical role in stabilizing the national grid and meeting demand.

"We are honored to partner with Iraq in advancing its energy resilience," said Zeynep Harezi Yılmaz, Chief Commercial Officer at Karpowership. "This project represents a strong step toward bridging the electricity gap and aligns with our mission to provide rapid, flexible, and reliable power wherever it is needed most."

The Powerships will be deployed to the Khor Al Zubair and Umm Qasr ports in Basra and are expected to begin operations in August 2025. The Powerships, which are multi-fuel enabled and entirely self-contained with everything needed to function onboard, will provide a cost-effective, rapidly deployable solution that avoids the lengthy construction timelines of land-based power infrastructure.

Karpowership has a proven track record of delivering floating power solutions globally, with operations in 16 countries across four continents. Its Powership technology offers a practical, scalable solution to improve energy security, with the flexibility to operate on multiple fuels, while providing reliable power to support economic development; including in Iraq where operations will be carried out through its affiliate, BKPS.

About Karpowership

Karpowership is a global energy company specializing in fast-track and integrated power solutions. As the only builder, owner and operator of the world's largest Powership fleet, Karpowership's vessels can deliver turnkey energy solutions wherever they are needed, connecting to the grid and generating electricity in less than 30 days. In addition to its signature Powerships, Karpowership offers floating LNG solutions to support a cleaner, more flexible energy future. With over 25 years of experience, Karpowership remains committed to delivering sustainable and reliable power, empowering nations and communities.

Visit www.karpowership.com for more information.

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