ANNOUNCEMENT 21 Dec 2018

The National Bank for Economic and Social Development (i.e. BNDES by the acronym in Portuguese) approved a loan to UTE GNA I Geração de Energia.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

BNDES News Agency. Agência BNDES de notícias. "Movida a gás natural, termeléctrica no Porto do Açu terá financiamento de R$ 1,76 bi do BNDES". Availabe at: https://agenciadenoticias.bndes.gov.br/detalhe/noticia/Movida-a-gas-natural-termeletrica-no-Porto-no-Acu-tera-financiamento-de-R$-176-bi-do-BNDES/

Inception date: 21 Dec 2018 | Removal date: open ended
Still in force

State loan

On 21 December 2018, the BNDES announced the allocation of BRL 1.76 billion (over USD 454 million at the time of the announcement) to UTE GNA I Geração de Energia S.A., a special purpose company dedicated to the development, implementation and operation of sustainable energy and gas projects.

The purpose of this funding is the implementation of a Liquefied Natural Gas (LGN) thermoelectric plant in Açu Port. 

The total investment of the project is estimated at BRL 4.5 billion (circa USD 1.2 billion) and it counts with the participation of KfW IPEX-Bank and Euler Hermes Aktiengesellschaft, a German development bank and an export credit agency.

The Açu Port project includes the building of a thermoelectric plant with installed capacity of 1,338.3 MW, the construction of an LNG import and regasification terminal, as well as a substation and a transmission line, interconnecting the plant to the national grid. 

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AFFECTED PRODUCTS