New Fortress Energy (NFE) and its partner Ebrasil Energia, an affiliate of Ebrasil, have entered into a definitive Share Purchase Agreement (SPA) with the Brazilian power company Eneva to sell its 1,593 MW Porto de Sergipe combined-cycle gas-fired power plant located in Barra dos Coqueiros in Sergipe (Brazil) for BRL6.1 bn (US$1.3bn) in cash. As part of the transaction, Eneva has agreed to acquire 100% of the shares of Centrais Elétricas de Sergipe Participações (CELSEPAR), which owns 100% of the equity interests of the Sergipe power plant, and Centrais Elétricas Barra dos Coqueiros (CEBARRA), which owns 1.7 GW of expansion rights adjacent to the Sergipe plant, for a total implied enterprise value of BRL10.2bn (U$2.2bn). The transaction is subject to conditions, including approval by Eneva’s shareholders, the Brazilian antitrust agency and the receipt of necessary consents. It is expected to close in the second half of 2022.
Gas accounts for 8.5% of Brazil's installed capacity with 16.3 GW (2021). Since 2019, the country has added 2.8 GW of gas-fired power plants. More than 3 GW of gas-fired projects are currently under construction.
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