SPIC Brasil, a subsidiary of the Chinese electricity company State Power Investment Corp, announced an agreement to purchase 33% of the GNA I and GNA II projects, located in Porto do Açu (RJ), which total 3 GW in power generation capacity from LNG (liquefied natural gas).
The operation was closed with Prumo, a Brazilian company controlled by EIG Global Energy Partners, bp and Siemens, which hold a stake in the projects in the port of Rio de Janeiro.
The GNA I and GNA II thermal plants, currently under construction, will be the largest gas-fired power generation complex in Latin America, enough to supply electricity, for example, to up to 14 million homes.
The complex also includes an LNG regasification terminal, with a total capacity of 21 million m³/day. GNA I, which has an installed capacity of 1,3 GW, is expected to begin operating in the first half of 2021.
SPIC also signed a contract to participate in the future expansion projects GNA III and GNA IV, which foresee the combined use of LNG and domestic gas from Brazil's vast pre-salt reserves.
The companies highlighted that the contract reinforces the potential of the GNA III and GNA IV expansion projects, as well as the domestic gas hub strategy and renewable energy projects.
The estimated total planned investment for the GNA gas and power complex is around US$5 billion.
The closing of the contract, scheduled for the last quarter of 2020, is subject to compliance with certain precedent conditions common to this type of transaction.
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