Page 8 - GLNG Week 40 2022

GLNG AMERICAS GLNG

NFE, Ebrasil complete sale

of CELSE to Eneva

PROJECTS US-BASED New Fortress Energy (NFE) and its entire balance of – and thus retire – the standby
Brazilian joint venture partner Ebrasil Energia guarantee and credit facility agreement previ-
have completed the sale of the Centrais Elétricas ously signed with GE Capital EFS Financing Inc.
de Sergipe (CELSE) power station to Eneva, a The sale will not affect the operation of the
privately owned Brazilian company. Golar Nanook, the floating storage and regasi-
CELSE is the keystone of an LNG-to-power fication unit (FSRU) that takes delivery of LNG
project that makes use of Brazil’s first private- for the Porto do Sergipe TPP. NFE said in its
ly-owned LNG import terminal. The company statement that it would continue to operate the
operates the Porto do Sergipe thermal power FSRU via Energos Infrastructure, the joint ven-
plant (TPP), a natural gas-fired facility in Barra ture platform it had established for this purpose
dos Coqueiros with a generating capacity of with NYSE-listed Apollo. The Golar Nanook has
1,593 MW. It uses the terminal set up by NFE been chartered to CELSE for use at the TPP for
to import LNG and convert it to gas that can be more than 20 years, it added.
used to generate electricity. Wes Edens, the chairman and CEO of NFE,
To gain control of CELSE, Eneva acquired expressed satisfaction with the conclusion of the
100% of Centrais Elétricas de Sergipe Partic- sale to Eneva. “The closing of this transaction
ipações (CELSEPAR), the owner of the TPP’s further deleverages and simplifies our capital
equity assets, and 100% of Centrais Elétricas structure and marks another significant step
Barra dos Coqueiros (CEBARRA), the owner of toward our goal of an investment grade credit
the right to add 1,700 MW of new capacity to the rating,” he said. “We are pleased to redeploy these
TPP at an adjacent site. It also agreed to assume proceeds toward the capital needs of our Fast
CELSE’s outstanding debt obligations as part of LNG programme and downstream LNG pro-
the deal. jects worldwide, internally funding our strategic
Meanwhile, the parties have also used a por- growth initiatives to serve our customers’ needs
tion of the proceeds from the sale to pay off the amid a structurally short global LNG market.”™

P8 www. NEWSBASE .com Week 40 07•October•2022