New Fortress Energy to Acquire Power Purchase Agreements and Build LNG-to-Power Project at the Suape Port in Brazil
“The Suape Port provides an ideal location for NFE to bring clean and affordable energy to a rapidly growing region of Brazil,” said
Under the MOU, BR and CCETC intend to sell to NFE 100% of their respective ownership in power generation companies Pecém
NFE has also entered into a definitive agreement to acquire CH4 Energia Ltda., which owns key permits and authorizations to develop an LNG terminal and up to 1.37GW of gas-fired power at the Suape Port in the city of Ipojuca,
NFE plans to satisfy the obligations of the PPAs by moving the site and constructing a 288MW gas-fired power plant and LNG import terminal at the Suape Port, following necessary approvals from the Agência Nacional de Energia Elétrica (“ANEEL”) and other relevant regulatory authorities in
The terminal and power plant in the Suape Port are anticipated to begin commercial operations by the end of 2022.
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Specific factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to: risks related to the approval and execution of a definitive sales and purchase agreement, the development, construction or commissioning schedule may be longer than we expect, the funding of the project may not be possible on the terms we expect, we will be unable to operationalize our plans for the rights and key permits to develop the power plant and LNG terminal, and that we will not be able to provide electricity and natural gas to customers as we currently expect. These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of NFE’s forward-looking statements. Other known or unpredictable factors could also have material adverse effects on future results.
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