Golar secures PPA for 605MW power plant in Barcarena
04 November 2019
Golar LNG Limited (Golar) announced recently that Golar Power Limited (Golar Power), a (50/50) joint venture with Stonepeak Infrastructure Partners, has been awarded a 25-year power purchase agreement (PPA) for the construction of a 605MW combined cycle thermal power plant at the 2019 A-6 New Energy Auction.
Located in the Brazilian city of Barcarena, State of Pará, the 605MW power plant will utilize imported LNG for the generation of electricity using modern H-Class gas turbines, which will then be distributed to the Brazilian national electricity grid through the existing Vila do Conde Substation located nearby. Total investments for the power project are estimated at USD430 M, of which Golar LNG’s share is USD107M. Capex will be funded through debt and equity between 2022 and 2025 with the equity portion expected to come from the proceeds of the first wave of small-scale distribution in Golar Power.