05:06 PM EDT, 04/17/2024 (MT Newswires) -- New Fortress Energy ( NFE ) said late Wednesday it finalized and executed an engineering, procurement and construction contract for a 1.6-gigawatt power plant to be built adjacent to the Barcarena liquefied natural gas terminal in Brazil.

The contract is with a group formed by Mitsubishi Power Americas and Andrade Gutierrez.

The company said that construction activities for the thermal power plant are already underway, with commercial operations expected to start no later than August 2026. The power plant will operate under a 15-year deal with the Brazilian Chamber of Electric Energy Commercialization, New Fortress said.