The power deal involving Turkish consortium Karpowership has barely been launched, and already it has brushed against an iceberg. It has been hired to provide emergency power to South Africa’s grid for 20 years, through ships off the coast, in a deal valued at R218bn. 

Turkish company Karadeniz was supposed to include a local “black empowerment partner”, as with most state deals. It picked Powergroup SA, owned by Sechaba Moletsane, Ravin Rajoo, Sureshan Moodley and George Mokoena. Karadeniz would own 51%, and Powergroup 49%...

This article is free to read if you sign up or sign in.

If you have already registered or subscribed, please sign in to continue.

Questions or problems? Email or call 0860 52 52 00.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.