Gas Natural Acu

completed

The project comprises of the development, construction, operation and maintenance of a 1,298 MW gas-fired combined cycle power plant to run on gas supplied from a liquefied natural gas (“LNG”) import terminal (“the Terminal”), both located in Açu Port in Brazil. In addition, the interconnection of the power plant to the existing electricity transmission network is also part of the scope (all together, the “Project”).  UTE GNA I Geração de Energia S.A. (“UTE GNA I”) is the special purpose vehicle (“SPV”) established to undertake the Project, which will sell its capacity and energy under regulated power purchase agreements (“PPAs”) executed with 36 distribution companies. These PPAs were originally awarded by way of a competitive bid held in 2014 to Bolognesi Group and were fully transferred to the Project in late 2017. A second SPV, UTE GNA II Geração de Energia Ltda (“UTE GNA II”), was formed to develop, construct, operate and maintain a 1,673 MW  gas-fired combined cycle power plant, which will also source its gas from the Terminal. The PPAs were awarded to UTE GNA II in a competitive public bid held in December 2017.