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

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

While an average building in London or New York takes three years to be completed, in China a 26-story tower went up in five days with about 100 workers, and the global modular construction market already moves US$ 95 billion per year.

Australia installs giant concrete structures on the seabed 800 meters from the shore to create an ocean intake for desalination that will draw in saltwater and produce 30 million liters of drinking water per day.

A public school student single-handedly created a machine capable of treating water for up to 50 people using only solar energy. It was awarded third place at one of the most important science fairs in the world.

Goodbye traditional washing machine: Panasonic surprises housewives with the NA-G5 featuring four drums, a 13 kg washer and dryer, a 12 kg dryer, independent mini washers, a heat pump, and a 4-in-1 system awarded at the German Design Award.

While cities spend fortunes patching potholes and tons of plastic become waste, the Netherlands transforms over 218,000 recycled cups into a modular bike path that can conceal drainage, cables, and pipes.

While communities suffer from water scarcity and the advancing desert, women in Morocco use nets high up in the mountains to trap fog droplets, fill reservoirs, and transport drinking water through more than 10 km of piping.

An 11-year-old girl from Minas Gerais finds a simpler way to calculate square roots, using only basic operations, and transforms a calculation feared by many students into an example of mathematical creativity both inside and outside school in Brazil on social media.

While urban tunnels remain hidden for years beneath large cities, in London a giant tunnel boring machine called Sushila dug 8 km, completed 5 miles in the HS2 project, and then needed to be hoisted whole by a crane in a rare operation.

Honda ends the gasoline era: HR-V 2028 will feature a new 1.5 hybrid engine, greater range, more efficient consumption, AI in Honda Sensing, 360° 3D cameras, advanced semi-autonomous driving, and a new e:HEV system to compete with Chinese SUVs in the global market.

USA allocates $1 billion to transform billions of liters of water from the Gulf of Mexico into potable water in Texas with a megaplant of 50 million gallons per day as reservoirs operate below 30% and drought threatens millions

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

While an average building in London or New York takes three years to be completed, in China a 26-story tower went up in five days with about 100 workers, and the global modular construction market already moves US$ 95 billion per year.

Australia installs giant concrete structures on the seabed 800 meters from the shore to create an ocean intake for desalination that will draw in saltwater and produce 30 million liters of drinking water per day.

A public school student single-handedly created a machine capable of treating water for up to 50 people using only solar energy. It was awarded third place at one of the most important science fairs in the world.

Goodbye traditional washing machine: Panasonic surprises housewives with the NA-G5 featuring four drums, a 13 kg washer and dryer, a 12 kg dryer, independent mini washers, a heat pump, and a 4-in-1 system awarded at the German Design Award.

While cities spend fortunes patching potholes and tons of plastic become waste, the Netherlands transforms over 218,000 recycled cups into a modular bike path that can conceal drainage, cables, and pipes.

While communities suffer from water scarcity and the advancing desert, women in Morocco use nets high up in the mountains to trap fog droplets, fill reservoirs, and transport drinking water through more than 10 km of piping.

An 11-year-old girl from Minas Gerais finds a simpler way to calculate square roots, using only basic operations, and transforms a calculation feared by many students into an example of mathematical creativity both inside and outside school in Brazil on social media.

Brazil could become a global oil powerhouse with reserves jumping from 17 billion to 23.5 billion barrels, investments of US$ 30 billion per year, and exploration in the Equatorial Margin that could extend Brazilian production until 2042.

While Brazil discussed the transition, Petrobras unlocked 11 new platforms in the pre-salt until 2027 — Búzios alone receives 6 FPSOs and targets 1 million barrels/day.

Oil, jobs, and industry: ABESPETRO executive explains why Brazil has not yet reached the development of wealthy countries

MIT startup tests in Houston a millimeter wave maser drill that promises to bore 20 km of rock, three times deeper than Kola

Lula celebrates the revival of the fertilizer industry in Bahia, reinforces the defense of Petrobras, and criticizes privatizations that increased Brazil’s external dependency.

While urban tunnels remain hidden for years beneath large cities, in London a giant tunnel boring machine called Sushila dug 8 km, completed 5 miles in the HS2 project, and then needed to be hoisted whole by a crane in a rare operation.

Honda ends the gasoline era: HR-V 2028 will feature a new 1.5 hybrid engine, greater range, more efficient consumption, AI in Honda Sensing, 360° 3D cameras, advanced semi-autonomous driving, and a new e:HEV system to compete with Chinese SUVs in the global market.

USA allocates $1 billion to transform billions of liters of water from the Gulf of Mexico into potable water in Texas with a megaplant of 50 million gallons per day as reservoirs operate below 30% and drought threatens millions