2 min of reading

0 comments

New Fortress Energy Closes Deal to Acquire 1.6 GW from UTE Portocem

Written by Paulo Nogueira

Published on 28/12/2023 at 20:00

Oil and Gas

Visão aérea de estruturas e embarcações em terminal de regaseificação de GNL do Pecém (Foto: Divulgação/Petrobras) – Todos os direitos: EPBR

Be the first to react!

Ceiba Energy’s Investment in Thermal Power, Power Generation Assets, Cash Flows, and LNG Terminals. Regulatory Agency and PPA Portocem.

New Fortress Energy (NFE) closed a deal to take over the obligations and revenue of the 1.6 GW capacity reserve contract from the Portocem Thermal Power Plant (UTE Portocem), a subsidiary of Ceiba Energy, in exchange for convertible preferred shares of NFE. The completion of the transaction is subject to regulatory agency approval. UTE Portocem secured the contract, lasting fifteen years, in the 1st Capacity Reserve Auction, held in 2021 by Aneel, and provides for a payment of US$ 280 million per year to NFE.

New Fortress Energy (NFE) Acquisition Will Increase Its Presence in Brazil

New Fortress Energy (NFE) expects the transaction to be completed in March 2024, with the cash flows from the project expected to start by July 2026 at the latest. The company’s plan is to transfer the contract to the thermal power assets connected to the LNG terminals the company owns in Brazil: Barcarena, in Pará, and Terminal Gas Sul (TGS), in Santa Catarina. Both are expected to come into operation by early 2024.

New Investments in the Brazilian Energy Sector

With a 1.6 GW project, the Portocem Thermal Power Plant, an investment by Ceiba Energy, valued at approximately R$ 4.7 billion, is currently in construction phase at the Export Processing Zone of Ceará (ZPE Ceará), in the Industrial and Port Complex of Pecém (CIPP). New Fortress Energy (NFE) plans to expand its energy complex by 1.2 GW in Barcarena by 2026, while the remaining 0.4 GW will be allocated to power generation assets connected to the TGS. The original development of 630 MW by NFE in Barcarena remains on schedule for the third quarter of 2025.

ARTICLE CONTINUES BELOW

Expansion of New Fortress Energy’s Presence in Brazil

By utilizing its existing asset base, the company expects to reduce costs and generate revenue and incremental gains at its terminals. The acquisition of the PPA Portocem adds a long-term contracted asset that is highly complementary to New Fortress Energy’s presence in Brazil. This aligns with the strategy of vertical integration and asset optimization, in an effort to create long-term shareholder value.

Gas-Sul Terminal (TGS) and Its Benefits for the Region

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

Source: EPBR

0 Comments

most recent

older Most voted

New Fortress Energy Closes Deal to Acquire 1.6 GW from UTE Portocem

Ceiba Energy’s Investment in Thermal Power, Power Generation Assets, Cash Flows, and LNG Terminals. Regulatory Agency and PPA Portocem.

New Fortress Energy (NFE) Acquisition Will Increase Its Presence in Brazil

New Investments in the Brazilian Energy Sector

Expansion of New Fortress Energy’s Presence in Brazil

Gas-Sul Terminal (TGS) and Its Benefits for the Region

Libya built over 4,000 kilometers of underground pipelines to bring water from the Sahara to coastal cities in a project that the government itself called the Eighth Wonder of the World.

Desert sand, previously discarded for being too smooth for concrete, becomes an ecological brick in the United Arab Emirates, dispensing with Portland cement, curing at room temperature, and attempting to transform dunes useless for construction into raw material for a new arid engineering.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

Toyota launches “family hybrid van” with 7 or 8 seats, 1.8 hybrid engine, fuel consumption of up to 23.8 km/l, and a price equivalent to about R$ 104,000 without taxes, below the Tiggo 8 Pro Plug-in Hybrid sold in Brazil: meet the Noah Hybrid 2026 in Japan.

Chinese woman planted trees for decades while sand buried part of her house, received $5,000 from an American in 1999, and helped transform the desert into a forest of 8 million trees in China.

Described by astronauts as one of the most unlikely natural phenomena on Earth, the Okavango Delta spreads over up to 15,000 square kilometers in the middle of the desert and transforms Botswana into a living labyrinth of channels, islands, and flooded areas.

Keeping your foot lightly on the brake pedal while driving may seem harmless, but mechanics warn: this habit generates constant heat, wears out the pads too quickly, and can warp the discs, making braking expensive and dangerous.

It’s not just Bolsa Família: CadÚnico can provide access to seven little-known benefits, including cheaper electricity bills, free interstate travel, microcredit, cisterns, popular phone service, and exemption from fees in public exams and the Enem.

International gallery chooses an old workers’ village in Jardim Botânico to open a new branch in Rio and surprises by bringing together 17 artists from Brazil, Mali, Portugal, and South Korea in a free exhibition.

Nepalese man was missing for six days on Everest, fell into an ice crevasse, survived on biscuits and melted ice, and only escaped after an avalanche cleared a path near Base Camp.

Painting a tree white seems like care, but the mistake many people make, replacing lime can suffocate the trunk and turn sun protection into a risk for the plant.

New Fortress Energy Closes Deal to Acquire 1.6 GW from UTE Portocem

Ceiba Energy’s Investment in Thermal Power, Power Generation Assets, Cash Flows, and LNG Terminals. Regulatory Agency and PPA Portocem.

New Fortress Energy (NFE) Acquisition Will Increase Its Presence in Brazil

New Investments in the Brazilian Energy Sector

Expansion of New Fortress Energy’s Presence in Brazil

Gas-Sul Terminal (TGS) and Its Benefits for the Region

Libya built over 4,000 kilometers of underground pipelines to bring water from the Sahara to coastal cities in a project that the government itself called the Eighth Wonder of the World.

Desert sand, previously discarded for being too smooth for concrete, becomes an ecological brick in the United Arab Emirates, dispensing with Portland cement, curing at room temperature, and attempting to transform dunes useless for construction into raw material for a new arid engineering.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

Toyota launches “family hybrid van” with 7 or 8 seats, 1.8 hybrid engine, fuel consumption of up to 23.8 km/l, and a price equivalent to about R$ 104,000 without taxes, below the Tiggo 8 Pro Plug-in Hybrid sold in Brazil: meet the Noah Hybrid 2026 in Japan.

Chinese woman planted trees for decades while sand buried part of her house, received $5,000 from an American in 1999, and helped transform the desert into a forest of 8 million trees in China.

Described by astronauts as one of the most unlikely natural phenomena on Earth, the Okavango Delta spreads over up to 15,000 square kilometers in the middle of the desert and transforms Botswana into a living labyrinth of channels, islands, and flooded areas.

Petrobras is expected to complete the drilling of the Morpho well in the Foz do Amazonas in August 2026, the first well in the Equatorial Margin, an oil frontier that the ANP estimates at more than 30 billion barrels and could redraw the map of Brazil.

Oil returns to the center of concerns with tension between the US and Iran

IEA reduces forecast for global oil demand in 2026 after impacts of the Middle East crisis

Bank of Japan raises interest rates to 1%, reaching the highest level in over three decades

ANP halts LPG reform, and Sindigás sees technical caution as a decisive point for safety, investments, and the future of the cylinder in Brazil.

Keeping your foot lightly on the brake pedal while driving may seem harmless, but mechanics warn: this habit generates constant heat, wears out the pads too quickly, and can warp the discs, making braking expensive and dangerous.

It’s not just Bolsa Família: CadÚnico can provide access to seven little-known benefits, including cheaper electricity bills, free interstate travel, microcredit, cisterns, popular phone service, and exemption from fees in public exams and the Enem.

International gallery chooses an old workers’ village in Jardim Botânico to open a new branch in Rio and surprises by bringing together 17 artists from Brazil, Mali, Portugal, and South Korea in a free exhibition.

Nepalese man was missing for six days on Everest, fell into an ice crevasse, survived on biscuits and melted ice, and only escaped after an avalanche cleared a path near Base Camp.

Painting a tree white seems like care, but the mistake many people make, replacing lime can suffocate the trunk and turn sun protection into a risk for the plant.