Eneva to buy Brazilian LNG power plant from New Fortress and partner

Brazilian energy firm Eneva has entered into a definitive deal with US LNG firm New Fortress Energy and joint venture partner Ebrasil to buy the Sergipe LNG power plant for about $1.29 billion.

This LNG-to-power project started commercial operations in 2020 and includes a regasification terminal served by the 170,00O-cbm Golar Nanook, and the 1,593 MW plant in Porto de Sergipe.

NFE, which owns 50 percent in the plant and operates the FSRU, said in a statement on Wednesday that Eneva has agreed to acquire 100 percent of the shares of the plant’s owner Celsepar.

In addition, the Brazilian firm agreed to buy Cebarra, which owns 1.7 GW of expansion rights adjacent to the Sergipe power plant.

According to NFE, the total implied enterprise value is about $2.16 billion.

Pursuant to the terms of the transaction, Eneva would also assume the current debt of Centrais Elétricas de Sergipe or Celse, the unit of Celsepar and the project operator, NFE said.

NFE to continue to operate Golar Nanook

“We look forward to maintaining a long-term relationship with Eneva and the Celse power plant,” Wes Edens, chairman and CEO of NFE said.

“Eneva is one of Brazil’s leading power companies and a highly capable long-term owner and operator of this critical power asset for northeast Brazil,” Edens said.

Also, he added that NFE would continue to operate Golar Nanook, that remains chartered to Celse for the next 20 years.

NFE expects the transaction to close in the second half of 2022, subject to satisfying certain closing conditions, including approval by Eneva’s shareholders, the Brazilian antitrust agency and the receipt of necessary consents.

Accounting for NFE’s 50 percent ownership of Celsepar, the transaction would generate proceeds to NFE of about $550 million following the paydown of certain debt and other liabilities and net of transaction expenses, the company said.

Most Popular

MOL gets OK for two LNG carrier designs with sails

Japan’s shipping giant MOL has secured approval from classification society Lloyd's Register (LR) for two liquefied natural gas (LNG) carrier designs equipped with four Wind Challenger sails.

Hanwha Ocean scores LNG carrier order

South Korea's Hanwha Ocean has secured a new contract to build one liquefied natural gas (LNG) carrier for about $252 million.

Dutch Eemshaven LNG terminal hits new record

The FSRU-based LNG import facility in the Dutch port of Eemshaven, owned by Gasunie and Vopak, has reached a new record.

More News Like This

NFE logs $557 million net loss, continues Puerto Rico supply deal talks

US LNG player New Fortress Energy reported a net loss of $557 million in the second quarter of 2025, while it continues to negotiate a long-term gas sale agreement with PREPA to provide gas island-wide in Puerto Rico.

Sawgrass LNG & Power secures Barbados supply deal

Miami-based Sawgrass LNG & Power has once again been selected as the supplier of LNG to Barbados National Energy Company (BNECL).

NFE receives non-compliance notice from Nasdaq

US LNG player New Fortress Energy has received a notice from Nasdaq on non-compliance with the latter’s listing rule for not submitting its quarterly report with the US SEC.

China’s Furui Energy in Brazilian bio-LNG move

China's Furui Energy Service, part of Furui, is moving forward with its plans to develop a bio-LNG project in Brazil.