As announced by the Brazilian Development Bank (BNDES) on Thursday, May 21, the project for construction of the Pecém Port thermal-electric power plant, in the city of São Gonçalo do Amarante, Ceará, in the Brazilian Northeast, was granted financing of 1.4 billion Brazilian reais (US$ 690 million) by the BNDES.
The concession of credit is equivalent to 45.51% of total investment of 3.4 billion. The work should generate 1,500 jobs in the period and construction is part of the Growth Acceleration Program (PAC). The period for payment is 17 years.
The BNDES funds should be granted to the Society for the Specific Purpose of Pecém Port Electric Generation, established by MPX, which includes EBX, belonging to Eike Batista, and EDP Energy Brazil, controlled by the Portuguese EDP- Energias de Portugal.
The new plant should start operating in 2012. It should have a capacity for generation of 720 megawatts (MW) of energy. The project also counts on financial investment by the Inter-American Development Bank (IDB), equivalent to 1 billion reais (US$ 490 million).
According to information disclosed by the BNDES, the new thermal electric mill should adopt technologies for clean production, using coal as a fuel, with the objective of reducing environmental impact and emission of polluting gas.
According to a press statement by MPX, the company also plans to turn "a significant share of investment to the development of carbon capture technologies".
The technology is being developed by MPX and EDP Energies Brazil in partnership with Energo, from Ceará, and the Seambiotic Institute, of Israel. The plan is for the gas generated to be turned to a tank, where it will serve as food for micro algae. The project is a pioneer project in Brazil.
MPX informed, through its press department, that projects for social development of communities residing in the area surrounding the mill should be promoted, as should plans for environmental protection and preservation in the region.