New Fortress Energy closes financing for Brazil power plant

New Fortress Energy (NFE) said November 7 it had closed financing arrangements to fund up to $575mn in asset-based financing which will be used to complete construction of its 630 MW gas-fired Barcarena power plant.

The plant, located adjacent to NFE’s LNG import terminal at the mouth of the Amazon River, is about 37% complete and is scheduled to commence operation in Q3 2025 under a 25-year power purchase agreement with several electricity distribution companies in Brazil.

NFE also said the planned conversion of the LNG carrier Energos Celsius to a floating storage and regasification unit (FSRU) is on track for completion in November, at which time it will be delivered to the Barcarena import terminal where it is expected to receive first gas by the end of this year. 

NFE has chartered the vessel under a long-term contract from Energos Infrastructure, a joint venture it created in 2022 with Apollo Funds.