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Shell, Mitsubishi and Brazil's Pátria Enters into power JV worth $700 million in Rio
Royal Dutch Shell Plc, Brazil's private equity group Patria Investimentos and Mitsubishi Hitachi Power System has announced that they would endow $700 million to build and operate a gas-fired power plant in the state of Rio de Janeiro.
The joint venture will construct the Marlim Azul thermal power plant with capacity of 565 MW in Macae, along Rio's coast, and will utilize natural gas supplied by Shell Brasil Petroleo Ltd. Patria will have 50.1 per cent of the venture, with 29.9 per cent held by Shell and 20 percent by Mitsubishi.
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