New data from GEM’s Global Gas Finance Tracker (GGFT) documents 238 developing project units and approximately US$18 billion in known project finance in Latin America and the Caribbean.
The new release adds project finance information as well as engineering, procurement, and construction (EPC) contractor and power purchaser information for liquified natural gas (LNG) and gas-fired power plant projects in 18 Latin American and Caribbean countries and territories. The GGFT map and dashboard present quick project and financier data at a glance, while in-depth information is available as a data download.
The tracker builds on GEM’s existing datasets and includes:
- Project-specific financing
- Names and types of financiers
- Final investment decision (FID) statuses, EPC contractors, and more.
While project-level finance represents only a small portion of the total finance available to fossil fuel companies, understanding this portion of the energy finance landscape helps stakeholders assess broader trends, risk exposure, and alignment with (or departure from) climate goals.
Energy spotlight: Brazil’s gas-fired power projects move forward after new financing
After years of uncertainty, as many as sixteen proposed and previously shelved gas-fired power projects secured contracts in Brazil’s March 2026 Reserve Capacity Auction. The projects represent as much as 11.8 gigawatts (GW) of new fossil gas capacity, including at least one announced project larger than 1 GW on its own — the Jandaia power station (2.4 GW).
Additional projects have secured loans from Brazilian banks, including:
- Financing for the Azulão II power station (590 MW) from Banco do Brasil SA and Banco da Amazônia
- Financing for the Portocém (1,576 MW) and Novo Tempo Barcarena (624 MW) power stations from the Brazilian National Bank for Economic and Social Development (BNDES)
For several long-shelved or stalled projects, this new financing represents the first concrete steps towards construction after years of inactivity. Contracts and other financing were also awarded to both expansions of existing gas-fired power infrastructure and new gas-fired power projects, signaling continued commitment to fossil gas by the Brazilian state.
Finance spotlight: Fossil gas investment in the Dominican Republic
A 1 million tonne per year (mtpa) LNG import terminal and several gas-fired power plant projects have secured financing and are in construction in the Dominican Republic. Several deals involve a variety of domestic, regional, and international financial institutions, highlighting both regional and global interest in Dominican fossil gas infrastructure:
- The Manzanillo LNG import terminal and two associated 430 MW power plants have locked in over US$1 billion from twelve international and local banks, including Citibank and JPMorgan as joint lead arrangers and Development Bank of Latin America and the Caribbean (CAF) and Inter-American Development Bank (IDB) Invest as development finance institution (DFI) lenders.
- The Manzanillo Power Land power station secured syndicated financing from eleven banks — nine of them international — including Banreservas, BHD International Bank, and CIFI Latin America.
- Siba power station, an operational gas-fired power station with an additional unit in construction, bagged as much as US$297.7 million in financing from eleven Latin American and Caribbean financial institutions.
For more fossil finance news, please visit our tracker homepage, map, and dashboard!
This is the last planned data release for the Gas Finance Tracker as the project goes into hiatus, but all released data will remain available on GEM’s website.
