Eneva Considers Acquisition of 75% of Nossa Senhora de Fátima Thermal Power Plant in Macaé

Eneva Said It Will Have Exclusivity To Conduct Due Diligence On The Asset, The UTE Fátima, With A License For Up To 1,750 Megawatts In Capacity In Macaé

Good news for Macaé, the electric company Eneva closed an exclusivity agreement for the potential acquisition of 75% of a natural gas thermoelectric project to be made viable in partnership with a global oil company with exploration rights in Brazil, the company said in a statement this Thursday, November 7. Yesterday, the state oil company Petrobras announced the sale of Liquigás for 3.7 billion reais.

The company also disclosed at a meeting with analysts and investors this Thursday prospects for expansion and dividend distribution, according to a presentation made at “Eneva Day”, and stated in the presentation that it expects to start operations of its Parnaíba V and Azulão-Jaguatirica plants in mid-2021, while investments in the Parnaíba VI plant will only begin in 2022.

Regarding the possible partnership for the thermal project, Eneva said it will have exclusivity to conduct due diligence on the asset, the UTE Fátima, with a license for up to 1,750 megawatts in capacity in Macaé (RJ), until the date of auctions for contracting thermoelectric plants scheduled by the government for 2020 or until 15 days after the project’s qualification in the regulated energy auction.

The contract was signed with Natural Energia Participações, UTE Fátima, and parent company Fátima Power Holding. The remaining 25% of the project belongs to a global energy company with offshore concessions in Brazil, Eneva said, without disclosing the name of the company.

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The plant was designed to operate with Liquefied Natural Gas (LNG) or associated natural gas, with supply to be provided by the project’s partner oil company.

In the statement, Eneva said there is currently no binding obligation to complete the transaction, nor any guarantee that it will be closed.

The specific auctions for thermoelectric plants scheduled by the government for March 31 next year will contract plants running on gas, LNG, and coal for operation in 2024 and 2025.

The government projects that the thermoelectric plants to be contracted will replace old plants, primarily powered by diesel, whose contracts will expire in the coming years.

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The bidding will be opened for both new ventures and for projects aimed at improving efficiency and fuel switching of the plants currently in operation, with 15-year contracts for the winners.

According to the Ministry of Mines and Energy, the initiative is aligned with the federal government’s New Gas Market program, which aims to increase competition in the gas sector and reduce input costs.

Neoenergia, owned by the Spanish Iberdrola, is also interested in the auctions, in which it is expected to register its Termopernambuco project, which is currently in operation but has a power sales contract that expires in 2024.