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    Enel offloads Brazilian gas plant for $88mn

Summary

Once the plant is divested, Enel's generation portfolio in Brazil will be 100% renewable.

by: NGW

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Complimentary, Natural Gas & LNG News, Americas, Gas to Power, Corporate, Mergers & Acquisitions, News By Country, Brazil

Enel offloads Brazilian gas plant for $88mn

The Brazilian arm of Italy's Enel announced on June 9 it had sold its 100% interest in a 327-MW gas-fired thermal power plant in Brazil's northeast city of Fortaleza to local firm Eneva for 431.6mn reais ($88mn).

The Central Geradora Termeletrica Fortaleza facility is situated at the Pecem industrial and port complex in Brazil's Ceara state. Enel said the sale was in line with its commitment to net-zero emissions by 2040, noting that once the plant had been divested its generation portfolio in Brazil would be 100% renewable.

The plant currently holds a power purchase agreement with Companhia Energetica de Ceara that runs until 2023. The facility posted 1.7bn reais in net operating revenue in 2021, and 580mn reais in EBITDA, Eneva said.

The transaction is due to be closed in the third quarter of 2022, pending shareholder and regulatory approvals.