Golar Power, an operator of LNG carriers, has reached a final investment decision on the Sergipe power project in Brazil and is to charter the newly built floating storage and regasification unit (FSRU), Golar Nanook, for 25 years.
The decision enables project company CELSE to enter into a lump sum turnkey EPC agreement with General Electric (GE) to build, maintain and operate a 1.5GW combined-cycle power plant in Brazil.
Golar says the EPC contract with GE makes up some 80 per cent of the project cost.
The 1.516GW power plant is near Sergipe’s state capital Aracaju. The largest thermal power station in South America, it will supplement hydro power during dry seasons and meet growing regional demand for electricity.