Name of the Project
Porto de Sergipe I power plant.

Location
The project will be located in the municipality of Barra dos Coqueiros, in the state of Sergipe, Brazil. 

Client
Centrais Elétricas de Sergipe (CELSE).

Project Description
The project entails the construction of a 1.5 GW power plant – the largest gas-fired power plant in Latin America.

The project will use three gas turbines and one steam turbine, a heat recovery steam generator and transmission technology.

GE will also provide operations, maintenance, repairs and digital solutions. The project meets growing regional energy demand and supports Brazil’s strategy to complement its hydrobased energy system with thermal power, creating a more reliable energy supply during dry seasons. 

Potential Job Creation
Not stated.

Value
CELSE and Goldman Sachs (GS) closed a ground-breaking R$3.2-billion project financing deal in April this year. It has also closed an additional R$1.3-billion in project debt, bringing total financing for the project to R$4.5-billion. This includes $200-million from the International Finance Corporation and $288-million from IDB Invest, the arm of the Inter-American Development Bank for private-sector investments. GS issued the bond, backed by Swiss export credit agency (ECA), SERV, in Brazilian currency, a market-first for bond issuers and insurers. This is one of the largest project bonds issued in the region and the largest private investment ever made in the state of Sergipe.

Duration
Delivery of power will start in January 2020.

Latest Developments
None stated.

Key Contracts and Suppliers
General Electric (turnkey contract).

On Budget and on Time?
Too early to state.

Contact Details for Project Information
CELSE, tel +55 81 3092-4555 or email contato@ebrasilenergia.com.br.