Gas Natural Açu’s LNG-to-Power Project


Milbank LLP advised the project company, Gas Natural Açu (GNA), in connection with the development and financing of a major LNG-to-Power project at Açu Port in São João da Barra, Brazil.

The financing included a credit facility from Brazilian development bank Banco Nacional de Desenvolvimento Econômico e Social (BNDES), guaranteed by KfW-IPEX Bank and supported by Euler Hermes, and a credit facility from the International Finance Corporation.

The financing will be used for phase 1 of the project, consisting of the development and construction of a 1,338MW thermoelectric plant, an LNG import and regasification terminal, and a substation and transmission line connecting the plant to the national grid. This project is part of the largest natural gas thermoelectric complex in Latin America.

The cross-border Milbank team was led by Global Project, Energy and Infrastructure Finance partners Carolina Walther-Meade (Picture) and Dan Bartfeld in New York and Matthew Hagopian in London, special counsel Chris Taufatofua, and associates Fernando Capellão, Rhys Howard, Rocío Portela-Berrios and Kilian de Cintré.

Involved fees earner: Dan Bartfeld – Milbank; Fernando Capellão – Milbank; Matthew Hagopian – Milbank; Rhys Howard – Milbank; Kilian de Cintre – Milbank; Rocio Portela-Berrios – Milbank; Chris Taufatofua – Milbank; Carolina Walther-Meade – Milbank;

Law Firms: Milbank;

Clients: Gas Natural Açu ;

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Author: Ambrogio Visconti