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since 2009
Thursday, July 16, 2026

Business Brazil

Brazilian Utility Eneva Starts a $1.2 Billion Gas Hub

By · July 16, 2026 · 4 min read

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Brazil · Energy

Key Facts

Project cost Eneva is investing roughly R$6 billion (about US$1.2 billion) in the thermal plant and a dedicated gas pier, creating over 2,000 jobs during construction.

Capacity and contract The Jandaia plant will generate 1,147 MW under a 15-year federal contract, expanding the region’s reliable power supply for investors and residents.

LNG infrastructure The project includes an import terminal, an FSRU, and a R$430 million (about US$85 million) pier, securing a new natural gas supply route for Ceará.

Strategic shift Eneva sold its coal-fired Pecém II plant to focus on natural gas, signaling a long-term commitment to cleaner thermal power generation.

Timeline Works officially launched in June 2026 with the cornerstone ceremony, and the plant is scheduled to start commercial operations in 2030.

Brazilian power company Eneva is starting works on a roughly R$6 billion (about US$1.2 billion) gas-fired power and LNG infrastructure complex at the Port of Pecém in Ceará state.

Brazilian Power Generator Eneva Starts $1.16 Billion Gas-Power Hub in Northeast Brazil
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Groundbreaking at the Pecém Complex

Eneva S.A. has officially launched construction of its new gas-power hub on the coast of Ceará. The cornerstone ceremony was held in June 2026 at the Port of Pecém, in São Gonçalo do Amarante, marking the physical start of the project.

The initiative centers on the Jandaia natural-gas thermoelectric plant in nearby Caucaia and an associated LNG regasification terminal and pier directly at the port. Together, the thermal plant and exclusive gas-handling pier are expected to cost around R$6 billion (about US$1.2 billion).

The Jandaia Plant and Auction Win

The Jandaia project was secured through a federal capacity reserve auction held in March. Eneva, together with Diamante Geração de Energia, won the right to build the gas-fired plant, which will have a generation capacity of 1,147 MW under a 15-year contract.

Eneva had previously finalized the acquisition of the broader Jandaia LNG-to-power project from Ceiba Energy in September 2025. The total licensed capacity for the complex is up to 2,340 MW, making it a cornerstone of the company’s future gas-fired portfolio in the region.

Live Company IntelligenceEneva S.A — the full investor dossierInside: live share price, market cap, three-year financials, valuation, ESG and peer benchmarks — plus the latest Rio Times coverage.
Rio Times · Live Ticker Intelligence
Eneva S.A
ENEV3 · B3 São PauloUtilitiesUtilities – Diversified
Share price · live
R$26.03
▼ -3.41% today
Market cap
R$52.0 bn (US$10.2 bn)
1.9 bn shares
P / E
45.3
EPS 0.60
Dividend yield
The company
Employees
2,054
Headquarters
Rio De Janeiro
Listed since
2007
Website

Eneva S.A., an integrated energy company, engages in the exploration, production, and commercialization of natural gas and liquids in Brazil. The company generates electricity through natural gas, steam, coal, and solar energy. It also supplies natural gas solutions to the on-grid and off-grid market for thermal…

Financial performance · FY · BRL
RevenueNet income
2023
R$10.1 bn
R$217.7 mn
2024
R$11.4 bn
R$42.0 mn
2025
R$18.4 bn
R$1.2 bn

Net income rose to R$1.2 bn in 2025, from R$217.7 mn in 2023.

Valuation & returns
EBITDA margin
34.0%
Net margin
6.9%
Return on equity
8.7%
Price / book
2.59
Enterprise value
R$76.1 bn (US$14.9 bn)
Revenue growth · YoY
+5.8%
Latest earnings
Q1 2026 — reported EPS 0.27 vs 0.14 expected
Beat +93%
Peers & comparators
IBOV
▼ -1.28%
USD/BRL
▲ +0.41%
BRENT
▼ -0.71%
Data: EODHD Fundamentals & live feed · The Rio Times Ticker Intelligence

Gas Infrastructure and Pier Zero

To fuel the new thermal plant, the complex requires dedicated infrastructure for importing and processing liquefied natural gas. The plan includes a Floating Storage and Regasification Unit (FSRU) and a new import terminal.

A specific component is the construction of Pier Zero at the Pecém Industrial and Port Complex, for which Marquise Infraestrutura was selected. This dedicated pier alone represents an investment of about R$430 million (about US$85 million) and is designed to handle exclusive gas deliveries for Eneva’s project.

Why This Matters for Investors and Residents

For investors, the start of construction translates a multi-year auction and acquisition process into tangible, on-the-ground progress. Eneva’s sale of its coal-fired Pecém II plant to focus on this hub demonstrates a portfolio rotation toward LNG, aligning with global energy trends and offering a new long-term contracted asset.

For Ceará residents and the regional economy, the project promises more than 2,000 direct and indirect jobs over the next three years. Once operational in 2030, the plant will strengthen the local grid’s reliability, handling around 18 million cubic meters of natural gas per year and supporting energy security in Brazil’s Northeast.

Frequently Asked Questions

Who is building the new gas power plant in Pecém?

Brazilian power generator Eneva S.A. is building the Jandaia thermal plant at the Port of Pecém, having won the project in a federal auction together with Diamante Geração de Energia.

How much is Eneva investing in the Pecém gas-power hub?

Eneva is investing approximately R$6 billion (about US$1.2 billion) in the thermal power plant and its associated gas pier, with an additional R$430 million (about US$85 million) allocated specifically for the gas terminal and pier.

When will the Jandaia thermal plant start generating power?

Construction has begun with a cornerstone ceremony in June 2026, and according to official project timelines, the plant is scheduled to commence commercial operations in 2030.

Sources: Brazil’s Eneva starts R$6B Jandaia gas-power hub at Pecém, Ceará, Eneva, Diamante win capacity auction for new natural gas-fired power plant at Pecém Complex, Eneva inicia obras para termelétrica e pier de gás no Pecém, New Regasification Pier at Port of Pecém Boosts Ceará’s Energy Expansion, Eneva mira Pecém para turbinar portfólio térmico

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