A consortium comprising Duro Felguera and General Electric has signed an EUR 800 million ($878 million) deal to build two gas-fired thermoelectric plants in Brazil. The turnkey contract with Brazil's Grupo Bolognesi calls for the construction of two 1.5GW power plants by 2018. Bolognesi secured 25-year supply contracts for the plants at an auction in November 2014.

The company plans to invest $2.2 billion in the plants.