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Karpowership to resume electricity supply
- Karpowership suspended operations for six weeks over delayed payments
- Says it’s owed over $100 million in arrears
Turkeys Karpowership has announced plans to resume electricity supply to Lebanon. The announcement comes six weeks after it suspended its operations due to overdue payments of up to $100 million. Karpowership, which supplies 370MW representing a quarter of Lebanon’s electricity, has said its decision to begin operations, is a gesture of goodwill to the Lebanese government.
Karpowership had told the Lebanese government that it might shut down operations completely unless the government began negotiations on the settlement of outstanding debt and resolves the legal threats to its vessels. Last month, the company was threatened by a Lebanese Prosecutor who threatened to seize their operating vessels pending investigations into corruption and fraud allegations.
The company which supplies electricity from two barges is expected to increase availability by up to six hours daily. In a statement, Karpowership said, ”This is a goodwill gesture”.
Lebanon is currently experiencing its worse economic crisis in decades with the failure to form a government and petroleum prices on the increase.