Golar Power, a subsidiary of Golar LNG, has announced that it has reached financial closing on the 1,500 MW Porto de Sergipe I power project (or Sergipe TPP) in the state of Sergipe in north-eastern Brazil. The power plant will be operated by CELSE (Centrais Elétricas de Sergipe), a 50% subsidiary of Golar Power.
The project will be located near Aracaju, the state capital of Sergipe, and will supplement hydropower during dry seasons, helping to meet growing demand for electricity in the region. Gas will be supplied by a new-build FSRU, the Golar Nanook, chartered for 25 years as of November 2017. The FID was reached in October 2016 and Black & Veatch was selected as the engineering, procurement and construction (EPC) contractor in November 2016. The power plant is expected to be commissioned as of January 2020 and will supply power to 26 committed off-takers for 25 years. Total investment in the plant and terminal is estimated at US$1.74bn.
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