China’s State Power Investment Corporation (SPIC) will acquire a 33% stake in two Brazilian plants in the largest power project fueled by super-chilled liquefied natural gas (LNG) in Latin America from Gas Natural Acu (GNA), according to Reuters.

The deal between SPIC Brasil, a wholly owned subsidiary of SPIC, and GNA, a joint venture between BP, is scheduled to take place in Q4 of 2020. As of yet the exact pricing of the deal is unknown.

The two plants will have 3 gigawatts of installed capacity after the installation of GNA I and GNA II in 2021 and 2023, respectively. The deal also includes an LNG terminal with a capacity of 21 million cubic meters per day (mcm/d).

Under the terms of this deal, SPIC Brasil will also obtain the development rights for plant projects GNA III and GNA IV. The aforementioned projects are expected to be fuelled by both LNG and domestic gas from the country’s deep-water “pre-salt” fields.