skip to Main Content

New Fortress agrees to buy Hygo Energy from Golar LNG and Stonepeak Infrastructure Partners

Read Time: 2 mins

New Fortress Energy has agreed to acquire Brazilian LNG and power company Hygo Energy Transition from Norway’s Golar LNG and US private equity fund Stonepeak Infrastructure Partners.

The $2.18bn acquisition gives New York-based New Fortress “an expansive presence in Brazil’s growing natural gas and power market” and marks its first move into South America. In a parallel $251m agreement, Golar LNG agreed to merge with New Fortress.

Hygo’s assets in Brazil include a 50 percent stake in Centrais Eletricas de Sergipe (Celse), which owns the Porto de Sergipe LNG-to-power complex. The 1.5GW power station is supplied by the Golar Nanook floating storage and regasification unit (FSRU), which has a 26-year contract with Celse.

With the deal, three additional vessels are expected to be deployed to Brazil, including the Golar Mazo LNG carrier (LNGC), which has been slated for Suape Port in Pernambuco.

Two other LNGCs, (the Golar Penguin and Golar Celsius) will also be converted to FSRUs for deployment to Brazil, according to New Fortress.

The acquisition also includes a 50 percent stake in the 605MW Centrais Eletricas Barcarena (Celba) thermoelectric project, which was awarded 25-year power purchase agreements (PPAs) with nine power distributors in an October 2019 auction.

Other projects in Hygo’s portfolio include a 15mn m³/d LNG regasification terminal project in Santa Catarina state, which is awaiting final environmental approval to begin construction. And Hygo is building a 100,000 m³/d liquefaction plant in Uruguaiana in Rio Grande do Sul state, which will receive pipeline gas from neighboring Argentina.

For more information visit