SPIC invests in gas-fuelled power complex in Brazil

19 August 2020

The developer of the southeastern Brazilian port of Açu, Prumo Logística SA, says it has agreed to sell a one-third stake in its complex of electricity generators at the port to State Power Investment Corp. Ltd (SPIC) of China.

Prumo issued a written announcement forecasting that the buyer will take possession of its stake in the fourth quarter of this year.

Prumo says its set of electricity generators at Açu, all fuelled by natural gas, has 3 GW of installed capacity, enough to supply 14 million households with power, which makes it the biggest gas-fuelled generating complex in Latin America.

The company says the Brazilian subsidiary of SPIC has also agreed to take part in projects to expand the complex.

Prumo intends to invest nearly US$5 billion in the complex, the company says.

The complex has its own gas terminal, which can handle 21 million cubic metres of natural gas a day, the Prumo announcement says.

(Source) Permanent Secretariat to the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao):