Thermal Power Plant To Be Installed at Açu Port Will Include Participation From Chinese Multinational

The Administrative Council for Economic Defense (CADE) Approved the Entrance of Spic Brasil, a Subsidiary of the Chinese Spic, into the Construction Project of the GNA I and GNA II Thermoelectric Plants at Porto do Açu

In August, it was announced that SPIC Brasil signed a binding contract with the companies Prumo, BP, and Siemens to acquire a 33% stake in the projects of the GNA I and GNA II thermoelectric plants, located in Porto do Açu, Rio de Janeiro, which will generate 3 GW of energy from LNG. The closing of the agreement is expected in the last quarter of this year.

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This Tuesday (10/13), according to a publication in the Official Gazette, CADE gave the green light for Spic Brasil to join the two thermoelectric plants to be installed at Porto do Açu.

According to the agency, the operation represents an opportunity for the parties involved to combine their individual strengths to build and operate the thermoelectric plants, as well as to enhance potential expansion projects, the strategy for the gas terminal, and renewable energy projects in Brazil.

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It is worth highlighting that the operation is still subject to approval by the National Electric Energy Agency (Aneel) and the National Agency of Petroleum, Natural Gas and Biofuels (ANP), as well as approval from the antitrust agency in China.

SPIC Brasil is a subsidiary of the State Power Investment Corporation of China (SPIC), a global company focused on energy generation and related projects. In Brazil, the company currently operates the São Simão Hydroelectric Plant, located on the border between the states of Minas Gerais and Goiás, the Millennium Wind Farm, and the Vale dos Ventos Wind Farm in Paraíba.

About the Thermoelectric Plants at Porto do Açu

The thermoelectric plants GNA I and GNA II make up the largest gas power generation complex in Latin America, with 3 GW of installed capacity – enough to supply power to up to 14 million households. The venture also includes an LNG terminal with a total capacity of 21 million m3 per day.

The GNA I thermoelectric plant, which has an installed capacity of 1.3 GW, is expected to begin operations in the first half of 2021 at Porto do Açu. The contract reinforces the potential for GNA III and GNA IV expansion projects, as well as the strategy for the domestic gas hub and renewable energy projects. The total estimated investment planned for the GNA gas and energy complex is approximately US$ 5 billion.