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Karpowership The Turkish powership conglomerate makes an astonishing amount of money from its specialist offering to frail and broken states. But many of its deals around the world have been criticised as exploitative and irrational. South Africa may become the biggest prize of all. And, little known, we have already helped fund the growth of this corporate empire. Karadeniz Holdings, the company that hopes to moor powerships in three local ports, commands a rapidly expanding fleet of these seaborne power plants, raking in over $1-billion per year around the world. Most of this was built in the past five years alone, bearing testimony to the group’s aggressive strategy of courting governments that are, as chief executive Orhan Karadeniz once told an American diplomat, desperate for electricity.

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