Duro Felguera lands $878mn Brazil thermo deal

May 25, 2015 12:00 AM

A consortium comprising Spain's Duro Felguera and multinational group General Electric has signed an 800mn-euro (US$878mn) deal to build two gas-fired thermoelectric plants in Brazil.

The turnkey contract with Brazil's Grupo Bolognesi calls for the construction of two 1.5GW power plants by 2018, Duro Felguera said in a securities filing.

Bolognesi secured 25-year supply contracts for the plants at an auction in November last year.

The Porto Alegre-based company says it plans to invest 6.5bn reais (US$2.2bn) in the projects.

In March Bolognesi revealed it was close to finalizing an agreement to import liquefied natural gas (LNG) to fuel the plants.

The deal would break the monopoly of state-run oil firm Petrobras on Brazil's LNG market.

Bolognesi also plans to build two regasification terminals to process LNG shipments from the Atlantic basin.

According to Bolognesi director Paulo César Rutzen, the facilities will require investments of 5.6bn reais and boast combined processing capacity of 28Mm3/d.

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