Prumo, bp and Siemens have signed a binding agreement with SPIC Brasil. Under the agreement, SPIC will initially acquire 33% of the GNA I and GNA II LNG-to-power projects, located in Port of Açu, Rio de Janeiro. SPIC has also entered into an agreement to participate in the future expansion projects GNA III and GNA IV, which are expected to be fueled by a combination of LNG and domestic gas from Brazil’s vast pre-salt reserves.
The closing of the agreement, scheduled for the fourth quarter of 2020, is subject to the fulfillment of certain conditions precedent usual to this type of transaction, among others.
GNA I and GNA II is the largest gas-to-power project in Latin America, with 3 GW of installed capacity — enough to supply energy for up to 14 million households. The complex also includes an LNG terminal with a total capacity of 21 million m3/ day. GNA I, which has an installed capacity of 1.3 GW, is expected to commence operations in the first half of 2021.
BofA Securities and Lakeshore Partners acted as financial advisors of GNA and its sponsors. Itaú BBA acted as exclusive financial advisor of SPIC. Mattos Filho acted as legal advisors of GNA and its sponsors. Trench Rossi Watanabe acted as legal advisors of SPIC.
AES Tietê Energia has entered into an agreement to acquire three wind farms in Rio Grande do Norte with a combined capacity of 187 MW. The deal with J Malucelli Energi...
Read morePetróleo Brasileiro S.A. – Petrobras begins the non-binding phase regarding the sale of its wholly-owned subsidiary Petrobras Biocombustível S.A. (PBIO). Qualified parties for the...
Read moreVoltalia has started the construction of its 59 megawatts VSM 4 wind farm in Brazil. The VSM 4 project is in Voltalia’s Serra Branca cluster, the world’s biggest wind-and-solar cluster. T...
Read morePetróleo Brasileiro S.A. – Petrobras, through its wholly-owned subsidiary Petrobras Biocombustível S.A. (PBIO), has signed an agreement for the sale of its 8.40% stake in the compa...
Read moreAES Corporation, through its wholly-owned subsidiary AES Holdings Brazil Ltda, has agreed to acquire an 18.5% economic interest in AES Tietê S.A from BNDES Participações S.A.'s (BN...
Read more