New Fortress Energy (NFE) has finalized an engineering, procurement and construction (EPC) contract with a consortium formed by Mitsubishi Power Americas and construction company Andrade Gutierrez for a 1.6-gigawatt gas-fired power plant to be built adjacent to the Barcarena LNG terminal in Brazil.

Nasdaq-listed NFE has also issued a full notice to proceed to the MHI/AG Consortium to begin construction work under the contract. The power plant will provide electricity under a 15-year capacity reserve contract that NFE acquired from Denham Capital and Ceiba Energy, which closed in March 2024.

Under the terms of the fixed-price, date-certain EPC contract, construction activities for the thermal power plant are already in progress, with commercial operations projected to start no later than August 2026. The power plant will operate under the 15-year agreement with the Brazilian Chamber of Electric Energy Commercialization.

In the first quarter of 2024, NFE completed the construction and commissioning of the Barcarena and Santa Catarina terminals.

Along with the existing 630-megawatt power plant and 25-year agreement, the Barcarena LNG terminal will now host and supply LNG to more than 2,200MW of power capacity owned by NFE, as well as supply natural gas to Norsk Hydro’s Alunorte alumina refinery under a 15-year contract which began in the first quarter.

New Fortress Energy owns and operates natural gas and liquefied natural gas (LNG) infrastructure, and an integrated fleet of ships and logistics assets to deliver turnkey energy solutions to global markets.