Karpowership and Seatrium have signed an MoU to develop floating energy production and digital infrastructure solutions in Southeast Asia.
Turkish energy company Karpowership and Singapore-based maritime and offshore engineering group Seatrium have signed a memorandum of understanding in Singapore to develop floating energy production and digital infrastructure solutions. The two companies aim to expand their collaboration to Southeast Asian countries and establish a joint venture.
The signing ceremony for the agreement, announced on October 27, 2026, during Singapore International Energy Week, was attended by Singapore's Minister for Energy, Trade and Industry, Dr. Tan See Leng.
Floating data centers and power plants will be developed.
Under the agreement, the two companies plan to create an integrated platform covering the development of energy infrastructure, financing, engineering, construction, and operational activities.
Within the framework of the collaboration, floating power plants (Powerships), floating data centers, turbine-based and hybrid vessels, as well as floating nuclear energy solutions will be evaluated.
The projects are expected to initially support Singapore's energy supply security and then expand into the Southeast Asian market.
Karpowership has 45 floating power plants.
Karpowership, which operates floating power plants worldwide, has a fleet of 45 Powerships. The company provides energy via the sea to countries that require electricity generation capacity.
The collaboration between Seatrium and Karpowership dates back to 2018. During this period, Seatrium completed the conversion of seven floating LNG storage and regasification units (FSRU) for Karpowership. The company has also undertaken two new FSRU conversion projects in 2026.
Agreement signed for five new generation energy vessels.
On October 23, the two companies signed a contract for the conversion and integration of five of Karpowership's third-generation Whale Class floating power plants.
Each of the vessels, which will be equipped with multi-fuel systems ready for hydrogen use, will have an electricity generation capacity of up to 600 MW. The first vessel is expected to arrive at Seatrium's Tuas Boulevard shipyard in Singapore in December 2027.
Joint venture discussions will continue in the coming months.
Seatrium CEO Chris Ong stated that the increasing demand for energy and digital infrastructure has created a need for rapidly deployable, flexible, and large-scale new solutions.
Karpowership CEO Orhan Remzi Karadeniz expressed that access to reliable energy has become one of the decisive factors for industrial investments and economic growth.
The parties aim to advance discussions regarding the establishment of the joint venture in the coming months. The realization of the venture will depend on the signing of final agreements and obtaining the necessary official approvals.
Source: SeaNews Türkiye
