The State Foundation for Environmental Protection (Fepam) of Rio Grande do Sul in Brazil has approved Grupo Cobra's 1,280 MW gas-fired power plant, requiring an investment of BRL6bn (US$1.2bn). The project was initially awarded to Grupo Bolonesi in a federal auction in 2014. The company had until January 2019 to develop the plant but it failed to meet the deadline and lost the grant offered by the ANEEL. Grupo Cobra, a subsidiary of Spanish construction group ACS (that was taken over by the French construction group VINCI in December 2021), secured the project in 2018.
In addition, the regulator has awarded a licence for a LNG import terminal developed by Regas Brasil Sul. Both projects are located in the Port of Rio Grande. Permits are valid until 2027.
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