Gás Natural Açu, a joint venture among Prumo Logística, BP and Siemens, announced that it closed the long-term financing for the implementation of GNA I, an LNG gas-fired thermoelectric plant with 1.3 GW of installed capacity, at Complex of Port of Açu, in Rio de Janeiro.
The financing transaction consists of two tranches: one with the International Finance Corporation (IFC), in the amount of US$ 288 million, concluded in March 2019, and another in the amount of R$ 1,76 billion, signed in December 2018, in an unprecedented partnership between BNDES and KfW IPEX-Bank. KfW IPEX-Bank, in turn, is supported by Euler Hermes Aktiengesellschaft, the German Export Credit Agency.
The GNA I project, expected to start commercial operation in 2021, consists of an integrated 1.3 GW combined cycle gas turbine (CCGT) based-fired power plant, an LNG import marine terminal, a transmission line, and the expansion of an existing substation. The plant will be linked to Brazil’s electrical grid, called the National Interconnected System (SIN). The project is part of the largest LNG-to-power complex in Latin America, which is being built by GNA at Port of Açu. Besides the GNA I, the company will build GNA II with 1.7 GW of installed capacity. Together, the two thermoelectric power plants will achieve 3 GW of installed capacity.
GNA I will support the diversification of Brazil’s energy matrix, enhancing system resilience, promoting energy security, and contributing to reliable and affordable energy.
Original source: KfW
Published on 03 April 2019
