Dr. Ousman Gajigo, a development economist and senior member of the Gambia For All party, has raised concerns over the financial burden of the Karpowership floating power vessel operating in The Gambia.
In an interview conducted on Monday, Dr. Gajigo said the vessel, owned by a Turkish company managing floating thermal power plants worldwide has been operating in the country for seven years under a power purchase agreement with the National Water and Electricity Company (NAWEC).
He noted that between 2018 and 2024, the Gambian government, through NAWEC, paid over D10 billion (more than $200 million) to the company—an amount he described as disproportionate to the vessel’s 30-megawatt (MW) generation capacity.
“For the same amount, the government could have built a 200 MW thermal power plant, enough to supply electricity to all 297,581 households in The Gambia, according to the 2024 census,” Dr. Gajigo said. He compared the deal to “renting a house at an annual cost equal to building it” and described it as one of the worst power purchase agreements in the country.
Dr. Gajigo also warned of the broader macroeconomic impact. In 2025, the government was expected to transfer D1.4 billion from the national budget to assist NAWEC in meeting its obligations, despite electricity customers pre-paying for services. “Payments to Karpowership were made in US dollars, effectively functioning as energy imports and putting pressure on the Gambian dalasi,” he remarked.
