Shearman & Sterling advised IFC and KfW IPEX on the financing of the Açu LNG to Power Project in Brazil. The project involves the development, construction, operation and maintenance of a 1,298MW gas-fired combined cycle power plant to run on gas supplied from a liquefied natural gas import terminal, both located in Açu Port in Brazil. The interconnection of the power plant to the existing electricity transmission network is also part of the scope.
UTE GNA I Geração de Energia S.A. is the special purpose vehicle (SPV) established to undertake the project, which will sell its capacity and energy under regulated power purchase agreements executed with 36 distribution companies.
The Shearman & Sterling team below included associate Danielle Atlink.