Thiago Moreira and Alexandre Arlota

Mattos Filho on the implementation of the thermoelectric Portocem

Mattos Filho advised Portocem – CEIBA Energy (an investee of Denham Capital) on the negotiation of the EPC and Long-Term Maintenance contracts for the development, implementation, and operation of the thermoelectric Portocem Plant, powered by natural gas.

The consortium partners that will construct the Plant are Mitsubishi Power Americas (formerly Mitsubishi Heavy Industries) and Consag (engineering company of the Andrade Gutierrez group).

The transaction involved several jurisdictions, since Mitsubishi Power Americas is headquartered in the USA and the Plant’s turbines will be supplied from outside of Brazil (scope divided between Japan, USA and Southeast Asia).

The total transaction value exceeds USD 800,000,000.00 (BRL 4.5 billion).

The Plant will be one of the largest ever built in Latin America and it will have 1.6GW of installed capacity. Among several other social and economical benefits, the Plant will provide reliable and firm energy to Brazil, foster investments in the North-region of Brazil and lay the foundations for a future local gas market. During its construction phase, up to 3,000 jobs will be created, and up to 150 employees during operations phase.

Mattos Filho relied on partners Thiago Fernandes Moreira (pictured left), Alexandre Sales Cabral Arlota (pictured right), and associates Carlos Herculano Capeletti Cubillas, Artur Avilla de Faria Pereira.

Consag was advised by in-house Debora Lunardelli Djehdian and Mitsubishi was advised by in-house Patrick Jordan. Fernando Planchart and Paula Barcellos acted as in-house counsel to CEIBA/PORTOCEM.