New Fortress Energy and its joint venture partner Ebrasil Energia Ltda. and its shareholders, have entered into a definitive share purchase agreement (SPA) with Brazilian power company Eneva S.A., whereby Eneva will acquire 100 percent of the equity interests of the Porto de Sergipe Power Plant for R$6.1 billion ($1.29 billion).
Located in Barra dos Coqueiros in the country’s Northeast region, the 1.593-gigawatt Sergipe Power Plant plays a critical role in Brazil’s energy security, providing low-cost, dispatchable power to balance the significant seasonal hydroelectric power that comprises a majority of the region’s electric capacity.
As part of the transaction, Eneva has agreed to acquire, directly and indirectly, 100 percent of the shares of Centrais Elétricas de Sergipe Participações S.A. (CELSEPAR), which owns 100 percent of the equity interests of the Sergipe Power Plant, and Centrais Elétricas Barra dos Coqueiros S.A. (CEBARRA), which owns 1.7 gigawat
