Brazil’s Bolognesi group has bolstered its Tergas LNG project by acquiring power generator Multiner.
The Ronaldo Bolognesi-led conglomerate paid R$637 million (US$348 million) for 55% of the company, which operates a 1000-megawatt portfolio of thermoelectric, wind and hydro plants in Brazil. It is also developing new gas-fired power stations.
Pension fund Fundo de Participacoes bought the remaining 45% for R$392 million.
Newly installed Multiner boss Paulo Cesar Rutzen said this week that a restructuring of Bolognesi’s power assets following the transaction will see his division carry out the group’s investments in the gas sector, including the Tergas project.
Bolognesi’s Hidrotermica subsidiary is pursuing Tergas as a combined import terminal and power plant at the port of Rio Grande in Brazil’s south.
