GNA

What GNA does

GNA - Gás Natural Açu S/A is a privately held Brazilian power generation utility formed as a joint venture in 2017 among Prumo Logística (controlled by EIG Global Energy Partners), bp, Siemens Energy, Siemens AG, and SPIC Brasil. The company develops, owns, and operates the largest natural gas-fired thermal power complex in Latin America at the Porto do Açu industrial-energy hub in São João da Barra, Rio de Janeiro state. Its asset base comprises two combined-cycle power plants — UTE GNA I (1,338 MW, operational since September 2021) and UTE GNA II (1,672.6 MW, operational since May 2025) — and Brazil's first private-use LNG regasification terminal featuring the FSRU BW Magna vessel with regasification capacity of up to 21 million cubic meters per day. Each plant uses a 3 gas turbine + 1 steam turbine architecture that achieves over 60% combined-cycle efficiency and reduces emissions relative to peers; UTE GNA II is designed to operate on up to 50% hydrogen. Approximately 100% of process water is supplied by an on-site seawater desalination plant, and GNA reports more than 45 million construction man-hours without lost-time accidents.

GNA generates revenue through long-term Power Purchase Agreements (PPAs) contracted via Brazilian Electricity Regulatory Agency (ANEEL) public auctions. UTE GNA I was contracted in Auction A-5/2014 under a 23-year CCEAR (Energy Commercialization Contract in the Regulated Market), and UTE GNA II in Auction A-6/2017 under a 25-year CCEAR. The revenue structure combines fixed capacity payments with variable energy payments, with electricity delivered to the National Interconnected System (SIN) via dedicated transmission infrastructure. The company is also pursuing R&D in hydrogen production from residual heat (with EDF Norte Fluminense) and LNG optimization modeling (with PSR and Argonáutica). GNA reports serving the residential equivalent of 14 million households and is led by President and CEO Emmanuel Delfosse, with corporate headquarters in Botafogo, Rio de Janeiro.

The company's go-to-market is exclusively institutional and B2B, oriented toward regulators, joint-venture shareholders, the development bank BNDES (R$375M financing in February 2026 alongside a matching Kinea commitment), and ESG/community stakeholders. Total cumulative investment is approximately R$12 billion across both plants and the LNG terminal. GNA has additional licensed capacity of 3.4 GW that points to potential expansion toward 6.4 GW, including planned pipelines to the national gas network and what the company describes as Brazil's first onshore LNG storage terminal.

Name

GNA

Legal name

Gás Natural Açu S/A

Website

https://gna.com.br

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

251–500 employees

Short description

GNA is a privately held Brazilian power generation joint venture between Prumo Logística, bp, Siemens Energy, Siemens AG, and SPIC Brasil. It owns and operates the largest natural gas-fired thermal power complex in Latin America — two combined-cycle plants totaling 3 GW plus Brazil's first private-use LNG regasification terminal — selling dispatchable electricity under long-term regulated PPAs to the National Interconnected System.

Ownership category

akta.pro rank

Product category

Thermal Power Generation

NAICS

Fossil Fuel Electric Power Generation (221112), Electric Power Generation (22111)

SIC

Natural Gas Transmisison & Distribution (4923), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield) (EUACABAI)

akta.pro secondary industries

LNG Regasification Terminals (Onshore & FSRU) (EUALAFAB), Gas-Fired Power Plant O&M and Life-Extension/Repowering Services (EUACABAJ), Gas-to-Power Project Development (IPP/CPP, Permitting, Financing) (EUALALAC)

Keywords

• Natural gas power generation
• LNG regasification services
• Combined-cycle power plants
• Thermal power generation
• Electricity generation infrastructure

Headquarters

HQ city

São João Da Barra

HQ country

Brazil

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D

Revenue model

1. Long-term PPA revenue (ANEEL Auctions): GNA generates revenue primarily through long-term Power Purchase Agreements (PPAs) secured via ANEEL public auctions. UTE GNA I was contracted in Auction A-5/2014 (23-year CCEAR), and UTE GNA II in Auction A-6/2017 (25-year CCEAR). Revenue is split between fixed capacity payments and variable energy payments under the regulated framework.
2. BNDES project financing: BNDES provided R$375 million in financing for the construction of the UTE GNA II natural gas power plant. Kinea asset manager also participated with an equal amount. This represents project finance debt that supports the capital-intensive infrastructure development.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

GNA develops, builds, and operates combined-cycle natural gas-fired thermal power plants (UTE GNA I and UTE GNA II) totaling 3 GW of installed capacity at the Porto do Açu industrial port complex in Rio de Janeiro, Brazil. The company also operates the first private-use LNG regasification terminal in Brazil (FSRU BW Magna) to fuel its plants, and sells electricity to Brazil's National Interconnected System through long-term Power Purchase Agreements (PPAs) secured via ANEEL public auctions.

Product overview

GNA operates as a power generation company managing the largest natural gas-fired thermal power complex in Latin America. The portfolio consists of two combined-cycle power plants (UTE GNA I with 1,338 MW and UTE GNA II with 1,672 MW) totaling 3 GW of installed capacity, interconnected by a private LNG regasification terminal (Terminal GNL). The complex is designed to supply energy to 14 million households, equivalent to the residential consumption of Rio de Janeiro, Minas Gerais, and Espírito Santo states. The company also conducts R&D activities through its innovation program focused on hydrogen production, efficiency optimization, and environmental protection.

Differentiator

Problem solved

Functional benefit

Products and services

• UTE GNA I A combined-cycle natural gas power plant located at Porto do Açu, Rio de Janeiro, with 1,338 MW of installed capacity, consisting of 3 gas turbines and 1 steam turbine. Electricity is sold to Brazil's National Interconnected System under a 23-year PPA, providing dispatchable baseload power that complements the country's hydropower-dominated grid.
• UTE GNA II The largest natural gas power plant in Brazil with 1,672.6 MW of installed capacity. Designed to operate using up to 50% hydrogen as a substitute for natural gas, achieving over 60% energy efficiency with the lowest emission levels among operational plants in the country. Sold under a 25-year PPA to Brazil's National Interconnected System.
• Terminal GNL (LNG Regasification Terminal) The first private-use LNG regasification terminal in Brazil, housing the FSRU BW Magna vessel that stores and regasifies up to 21 million cubic meters per day of LNG to supply GNA's power plants at Porto do Açu, supporting natural gas import infrastructure in Southeast Brazil.
• Research, Development and Innovation (P&D) Program Innovation and research program covering hydrogen generation from residual energy, computational modeling for LNG cargo optimization, sodium hypochlorite and hydrogen production via seawater electrolysis, and anti-corrosive coating development for electrical equipment. Partners include EDF Norte Fluminense, PSR, and Argonáutica.

Quantifiable outcome

• 3 GW installed capacity — largest natural gas thermal complex in Latin America
• +3 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and secondary.

• Prumo Logística (EIG Global Energy Partners)coreStrategic or Co-development Partner · 19 December 2017Prumo Logística, controlled by EIG Global Energy Partners, is responsible for developing the Porto do Açu — the site where GNA's thermal power complex is located. Prumo provides port infrastructure, project development, and integration. The Porto do Açu is one of Brazil's main industrial port and energy generation hubs. GNA is a joint venture occupant of this strategic infrastructure.
• bpcoreStrategic or Co-development Partner · 19 December 2017bp contributes its global LNG portfolio, acting as an innovative and integrated LNG supplier to fuel GNA's power plants. As a major global energy company, bp provides LNG sourcing and supply expertise to the joint venture.
• Siemens EnergycoreStrategic or Co-development PartnerSiemens Energy is responsible for supplying all systems and equipment for the power island of the plants (3 gas turbines + 1 steam turbine per plant), as well as operation and maintenance of the facilities. This is a technology and O&M partnership. In 2020, Siemens Gas and Power became Siemens Energy through a carve-out from Siemens AG.
• SPIC BrasilcoreStrategic or Co-development PartnerSPIC Brasil brings expertise in power generation project strategy, operations, and management in Brazil. Through SPIC Global, it has approximately 151 GW of total installed capacity worldwide, providing operational and strategic expertise to the joint venture.
• EDF Norte FluminensesecondaryStrategic or Co-development PartnerPartner in GNA's hydrogen generation R&D project (Geração de H2 a partir da energia residual), which aims to develop a hybrid system for simultaneous production of electricity and hydrogen from residual heat and solar energy. GNA and EDF Norte Fluminense each contributed 50% of the R$4 million investment.
• PSR and ArgonáuticasecondaryTechnology or IntegrationPSR and Argonáutica are developing an integrated modeling system for GNA's thermal plants and LNG terminal to optimize LNG cargo nominations under operative uncertainties, valued at R$4.5 million.
• Firjan (Federation of Industries of Rio de Janeiro)secondaryStrategic or Co-development PartnerGNA partnered with Firjan and the municipality of São João da Barra to create the Professional Qualification Program in 2018, providing free vocational training courses to local residents.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• ENGIE Brasil: One of the largest private power generators in Brazil with a diversified portfolio including gas, hydro, wind, and solar assets. Comparable to GNA as a major Brazilian IPP with significant gas-fired capacity, though operates at much larger scale and across multiple technologies.
• AES Brasil: Brazilian subsidiary of AES Corporation operating a diversified generation portfolio including gas, hydro, wind, and solar. Comparable as a major regulated-market IPP in Brazil with PPA-based revenue, though broader in scope than GNA's gas-fired focus.
• Petrobras: Brazilian state oil company and major LNG importer/regasifier operator with significant gas-fired generation interests. Comparable to GNA as a counterparty in Brazil's LNG value chain and broader gas-to-power ecosystem, though a far larger and more diversified integrated energy major.
• Auren Energia: Brazilian integrated energy company formed from the merger of AES Tietê and Enerbrasil-managed assets, with generation and trading operations. Comparable as a major Brazilian IPP with both renewable and thermal capacity in the regulated market.
• EDP Energias do Brasil: Major Brazilian energy company with diversified generation and distribution assets. Comparable to GNA as a regulated-market IPP in Brazil, though broader in technology mix and downstream distribution exposure.

Direct peers

• Eneva: Brazil's largest private thermal power generator focused on natural gas-fired integrated generation, with onshore and offshore gas assets supplying its IPPs. Closely comparable to GNA in business model (gas-to-power IPP), revenue structure (regulated PPAs), and Brazilian regulatory exposure.
• EDF Norte Fluminense: Operator of a gas-fired thermal power plant in northern Rio de Janeiro state. Comparable to GNA as a gas-fired IPP in the same Brazilian regulatory framework and proximate geographic region, and a current R&D partner on hydrogen production.
• SPIC Brasil: A GNA JV partner that also operates as an independent power producer in Brazil with gas, wind, and solar assets. Comparable as both a peer and partner — operates gas-fired generation in Brazil's regulated market with similar regulatory exposure.

Others

• Siemens Energy: Global energy technology supplier and GNA's technology partner, providing gas turbines and O&M services. Comparable as a critical equipment supplier and JV partner with deep involvement in GNA's operational performance, rather than a competitive peer in the IPP market.
• Porto do Açu Operações: Operator of the Porto do Açu industrial port complex where GNA's assets are located. Comparable as a strategic infrastructure partner and ecosystem enabler for GNA's operations, rather than a direct competitor — same site, complementary port and logistics capabilities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/gnagasnaturalacu

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GNA