Engie Signs Contract With Fram Capital For Power Plant In Santa Catarina

Written by Roberta Souza

Published on 31/08/2021 at 11:13

Complexo Termelétrico Jorge Lacerda/ Fonte: ND Mais

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As Part of the Decarbonization Plan, Engie Successfully Sells the Jorge Lacerda Thermoelectric Power Plant in Santa Catarina

Yesterday, Monday (30/08), Engie Brasil signed a contract for the sale of the Jorge Lacerda thermoelectric power plant to Diamante Holding, controlled by Fram Capital, for up to R$ 325 million, the company reported in a relevant fact. The Jorge Lacerda complex consists of a set of coal-fired power plants with a total installed capacity of 857 megawatts (MW), located in Capivari de Baixo, in the state of Santa Catarina. Check out this news as well: In Macaé, the Marlim Azul Thermoelectric Power Plant Starts a New Construction Phase with New Equipment Arrivals

Contract Details for the Sale of the Thermoelectric Power Plant

According to Engie, R$ 210 million will be paid at the closing of the transaction, and up to R$ 115 million is subject to the fulfillment of certain conditions set forth in the contract. The French-controlled Engie emphasized that the sale of the asset is important for the company’s decarbonization process.

According to Engie’s CEO, Eduardo Sattamini, this sale will allow for a gradual transition for the region’s economy, reducing potential socio-economic impacts compared to a process of discontinuation of operations. The possibility of discontinuation was acknowledged by the company due to the difficulties in selling these thermal plants. Leaders from southern Santa Catarina assessed the progression of the sale negotiations positively. It means continuity for the coal sector, which generates over 20,000 jobs and boosts various economic sectors in the region.

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Engie’s Decarbonization Plan

The divestment of the Jorge Lacerda thermoelectric power plant in Santa Catarina is part of Engie’s decarbonization plan, which aims to focus its business on renewable energies and transition fuels for a low-carbon economy. The company is seeking alternatives for coal-powered assets, and thermoelectric plants are one of them. Some suggestions have been analyzed, but a balance in the negotiation between risk allocation and sale conditions was not reached.

From that point, Engie decided to deepen discussions about the future of the terminal with various government sectors, trade associations, and civil society. Currently, an alternative plan for the phased sale and decommissioning of assets is described in detail.

In Addition to the Unit in Santa Catarina, Engie Plans to Sell the Pampa Sul Thermoelectric Power Plant

Engie, the largest private generator in the country, has decided to resume the commercialization process of the Pampa Sul thermoelectric power plant, located in the municipality of Candiota, in the state of Rio Grande do Sul. The project has a capacity of 345 megawatts of electricity and has been in commercial operation since June 2019. The coal-fired power plant is no longer part of the company’s future strategy, which aims to decarbonize its portfolio by 2025.

In 2015, the company promised to decarbonize its product portfolio by 2025, and in the past, it announced plans to sell its two thermoelectric plants in Santa Catarina, Pampa Sul and Jorge Lacerda. However, Engie backed off regarding Pampa Sul until the thermoelectric plant was ready for operation, aiming to reduce risks to potential interested parties.

Engie’s Pampa Sul Thermoelectric Power Plant has an installed capacity of 345 MW, and its construction was only possible thanks to the A-5 energy auction in November 2014. Its construction, which began the following year, was under the responsibility of the Chinese company SDEPCI, which has extensive experience in projects with cutting-edge technology in the thermoelectric segment.

Engie Signs Contract With Fram Capital For Power Plant In Santa Catarina

As Part of the Decarbonization Plan, Engie Successfully Sells the Jorge Lacerda Thermoelectric Power Plant in Santa Catarina

Contract Details for the Sale of the Thermoelectric Power Plant

Engie’s Decarbonization Plan

In Addition to the Unit in Santa Catarina, Engie Plans to Sell the Pampa Sul Thermoelectric Power Plant

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Engie Signs Contract With Fram Capital For Power Plant In Santa Catarina

As Part of the Decarbonization Plan, Engie Successfully Sells the Jorge Lacerda Thermoelectric Power Plant in Santa Catarina

Contract Details for the Sale of the Thermoelectric Power Plant

Engie’s Decarbonization Plan

In Addition to the Unit in Santa Catarina, Engie Plans to Sell the Pampa Sul Thermoelectric Power Plant

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