New Fortress Energy Expands Business in Brazil With the Acquisition of PPA Portocem and the Addition of 1.6 GW in Contract From UTE Portocem.

Written by Paulo Nogueira

Published on 29/12/2023 at 00:54

Terminal de regaseificação de GNL do Pecém (Foto: Divulgação Petrobras) – Todos os direitos: EPBR

Be the first to react!

NFE Awaits Approval to Transfer Contract from UTE Portocem to Thermal Power Plants Connected to LNG Terminals in Barcarena and TGS.

The company New Fortress Energy (NFE) has reached an agreement to acquire the obligations and revenues from the 1.6 GW capacity reservation contract of the Portocem Thermal Power Plant (UTE Portocem), a subsidiary of Ceiba Energy, in exchange for convertible preferred shares of NFE. This transaction is an important step for NFE in its commitment to expand its operations and strengthen its asset portfolio in the energy sector.

Expansion of New Fortress Energy Project in Brazil

NFE expects that the transaction will be completed in March 2024, with the cash flows from the project expected to start by July 2026 at the latest.

New Thermal Power Assets Connected to LNG Terminals

The company’s idea is to transfer the contract to the thermal power assets connected to the LNG terminals that the company owns in Brazil: Barcarena, in Pará, and Terminal Gas Sul (TGS), in Santa Catarina. Both are expected to go into operation by early 2024.

ARTICLE CONTINUES BELOW

Expansion of New Fortress Energy’s Presence in Brazil

‘We are extremely pleased to be expanding our business in Brazil and consolidating NFE as a leading provider of clean and reliable energy for one of the fastest-growing economies in the world’, said Wes Edens, chairman and CEO of New Fortress Energy.

Investment in UTE Portocem by Ceiba Energy

With a 1.6 GW project, UTE Portocem is an investment by Ceiba Energy, worth approximately R$ 4.7 billion, currently under construction in the Export Processing Zone of Ceará (ZPE Ceará), in the Pecém Industrial and Port Complex (CIPP).

Expansion Strategy of New Fortress Energy

NFE’s strategy is to expand its energy complex to 1.2 GW, in Barcarena, by 2026, while the remaining 0.4 GW will be allocated to power generation assets connected to TGS.

The original development of 630 MW by NFE in Barcarena remains on schedule for the third quarter of 2025.

Value for Shareholders and Vertical Integration

By leveraging its existing asset base, the company expects to reduce costs and generate incremental revenue and gains at its terminals.

‘With the acquisition of the PPA Portocem, we are adding a contracted asset of long duration that is highly complementary to our presence in Brazil. This aligns with our vertical integration strategy and optimization of our assets in an effort to create long-term value for shareholders’, said Andrew Dete, managing director of New Fortress Energy.

Solution for Limitations in Natural Gas Supply

The TGS terminal expects to alleviate part of the limitations in natural gas supply in the region, which includes over 3 GW of industrial and power generation customers.

Source: EPBR

0 Comentários

most recent

older Most voted

Built-in feedback

View all comments

New Fortress Energy Expands Business in Brazil With the Acquisition of PPA Portocem and the Addition of 1.6 GW in Contract From UTE Portocem.

NFE Awaits Approval to Transfer Contract from UTE Portocem to Thermal Power Plants Connected to LNG Terminals in Barcarena and TGS.

Expansion of New Fortress Energy Project in Brazil

New Thermal Power Assets Connected to LNG Terminals

Expansion of New Fortress Energy’s Presence in Brazil

Investment in UTE Portocem by Ceiba Energy

Expansion Strategy of New Fortress Energy

Value for Shareholders and Vertical Integration

Solution for Limitations in Natural Gas Supply

While in Brazil a 10-story building takes 2 years to complete, in China a company stacks pre-fabricated modules and raises the entire building in just 28 hours and 45 minutes.

Egypt wants to draw 10 million cubic meters of water from the Nile per day into the desert, irrigate a new agricultural frontier, and build a city where there is currently only sand.

BRICS is preparing a payment system inspired by the Brazilian PIX that will allow direct transactions between countries using national digital currencies without relying on the dollar or Western banks as intermediaries.

Ethiopia has banned gasoline and diesel cars, placed over a hundred silent electric buses on the streets of Addis Ababa, and now aims for half a million electric vehicles by 2030, all powered by Africa’s largest dam and a courage that few countries have shown.

Stored for over 100 years, the first underwater tunnel in Latin America receives a decisive boost with a loan of R$ 2.5 billion signed in April and promises to connect Santos and Guarujá, on the coast of São Paulo, in just 5 minutes.

Created to cling to ships like a lamprey, the new U.S. underwater drone sleeps on the ocean floor, launches torpedoes, and recharges itself with the current.

Solar-powered ice factory in the Amazon that eliminated a 5-hour trip to Manaus, prevents the loss of up to two-thirds of the fish, and now ensures income for more than 30 riverside families.

Scientists doped 105 salmon with cocaine and metabolites in Sweden, and exposed fish swam up to 14 km more in eight weeks, raising alarms about how drugs dumped into rivers can alter entire ecosystems.

A mysterious golden ball found 3,200 meters deep in the ocean intrigued scientists for two years until DNA sequencing revealed that it came from an unexpected giant animal.

From a pink lake in Australia to almost permanent lightning in Venezuela, researchers reveal the planet’s most improbable and bizarre natural phenomena, showing that Earth still surprises even science with almost unreal scenarios.

Astronauts who spend long periods in space develop flattening of the eyeball, swelling of the optic nerve, and retinal folds, a risk that already affects up to 70% of crews and still has no pharmacological treatment proven in flight.

The world’s most powerful charger arrives in Brazil with 1,500 kW and the promise of a nearly full recharge in a few minutes with BYD technology.

New Fortress Energy Expands Business in Brazil With the Acquisition of PPA Portocem and the Addition of 1.6 GW in Contract From UTE Portocem.

NFE Awaits Approval to Transfer Contract from UTE Portocem to Thermal Power Plants Connected to LNG Terminals in Barcarena and TGS.

Expansion of New Fortress Energy Project in Brazil

New Thermal Power Assets Connected to LNG Terminals

Expansion of New Fortress Energy’s Presence in Brazil

Investment in UTE Portocem by Ceiba Energy

Expansion Strategy of New Fortress Energy

Value for Shareholders and Vertical Integration

Solution for Limitations in Natural Gas Supply

While in Brazil a 10-story building takes 2 years to complete, in China a company stacks pre-fabricated modules and raises the entire building in just 28 hours and 45 minutes.

Egypt wants to draw 10 million cubic meters of water from the Nile per day into the desert, irrigate a new agricultural frontier, and build a city where there is currently only sand.

BRICS is preparing a payment system inspired by the Brazilian PIX that will allow direct transactions between countries using national digital currencies without relying on the dollar or Western banks as intermediaries.

Ethiopia has banned gasoline and diesel cars, placed over a hundred silent electric buses on the streets of Addis Ababa, and now aims for half a million electric vehicles by 2030, all powered by Africa’s largest dam and a courage that few countries have shown.

Stored for over 100 years, the first underwater tunnel in Latin America receives a decisive boost with a loan of R$ 2.5 billion signed in April and promises to connect Santos and Guarujá, on the coast of São Paulo, in just 5 minutes.

Created to cling to ships like a lamprey, the new U.S. underwater drone sleeps on the ocean floor, launches torpedoes, and recharges itself with the current.

Solar-powered ice factory in the Amazon that eliminated a 5-hour trip to Manaus, prevents the loss of up to two-thirds of the fish, and now ensures income for more than 30 riverside families.

Chemical tragedy in West Virginia leaves two dead and 30 hospitalized after toxic gas leak!

Oil surpasses US$ 103 amid tensions in the Middle East and uncertainty between the US and Iran.

U.S. oil stocks rise by 1.9 million barrels, contradicting analysts’ expectations of a sharp decline this week.

United Kingdom and France lead strategic plan to ensure the reopening of the Strait of Hormuz and stabilize the oil market.

An oil drilling company drilled 6 kilometers of rock in Colorado in just 18 days — but this time it didn’t want oil, it wanted the infinite heat that exists inside the Earth at 300 degrees Celsius.

Scientists doped 105 salmon with cocaine and metabolites in Sweden, and exposed fish swam up to 14 km more in eight weeks, raising alarms about how drugs dumped into rivers can alter entire ecosystems.

A mysterious golden ball found 3,200 meters deep in the ocean intrigued scientists for two years until DNA sequencing revealed that it came from an unexpected giant animal.

From a pink lake in Australia to almost permanent lightning in Venezuela, researchers reveal the planet’s most improbable and bizarre natural phenomena, showing that Earth still surprises even science with almost unreal scenarios.

Astronauts who spend long periods in space develop flattening of the eyeball, swelling of the optic nerve, and retinal folds, a risk that already affects up to 70% of crews and still has no pharmacological treatment proven in flight.

The world’s most powerful charger arrives in Brazil with 1,500 kW and the promise of a nearly full recharge in a few minutes with BYD technology.