Port of Acu I LNG-to-Power plant

active

Prospective

The project involves the development, construction and operation of a 1.298 GW integrated liquefied natural gas to power (LNG-to-power) plant, located at Complex of Port of Açu, in Rio de Janeiro in Brazil. The project also includes the construction of an LNG import marine terminal, a transmission line, and the expansion of an existing substation. plant will be linked to Brazil’s electrical grid - the National Interconnected System (SIN). The SPV is UTE GNA I Geração de Energia. It is 33% owned by Siemens and 67% owned by Gas Natural Açu, which in turn is owned by Prumo Logística SA (Brazil, 70%) and BP (30%). The total project cost is BRL 4.5 billion or around $ 1.2 billion. The debt financing comes in 2 tranches. International Finance Corporation (IFC) provides 15-year loan of $ 288 million. BRL 1.76 billion or $ 475 million come from a partnership between Brazilian development bank BNDES and KfW IPEX-Bank, the latter providing a guarantee. KfW IPEX-Bank is supported by the German Export Credit Agency Euler Hermes Aktiengesellschaft. Financing was announced on 3 April 2019 and signed on 15 March 2019; however the project reached financial close in August 2019. Start of commercial operations is expected in 2021 and the plant will help to reduce the country’s carbon footprint with around 139 thousand tons of CO2 equivalent emissions annually. The https://www.kfw-ipex-bank.de/Presse/News/News-Details_515136-2.html https://ifcextapps.ifc.org/IFCExt/Pressroom/IFCPressRoom.nsf/0/00D11DDE4F7CE548852583D1004AFD05 https://www.gtreview.com/news/americas/bndes-partners-with-kfw-to-finance-its-first-lng-thermoelectric-plant/ https://www.bp.com/content/dam/bp-country/en_br/factsheet.pdf https://ijglobal.com/articles/137391/loan-signed-for-brazilian-power-complex https://ijglobal.com/articles/139125/brazils-lng-to-power-project-reaches-fc

Energy

World Bank Group

Project

Water Supply and Storage, LNG, Natural Gas, Hydro, Oil and Gas, Power Generation (CCGT), Seaport, Power Transmission, Government, Commercial