New Fortress Energy (NFE) announced the execution of a 20-year gas supply agreement with Energiza to provide natural gas to a 478 MW combined-cycle power plant being developed in San Juan, Puerto Rico, located adjacent to NFE’s existing San Juan LNG import terminal. The Energiza power plant will be the first power plant constructed in Puerto Rico since 1995 and is expected to commence operations in 2028. “The long-term partnership between Energiza and NFE will greatly benefit Puerto Rico and we’re excited to be part of this historic milestone,” said Wes Edens, Chairman and CEO of New Fortress Energy. “This power plant will serve as a much-needed cleaner, reliable, and efficient power source to enhance Puerto Rico’s aging power system.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NFE:
- New Fortress Energy price target raised to $17 from $16 at Stifel
- New Fortress Energy executes 10 year charter for Energos Eskimo, no terms
- Deutsche Bank upgrades New Fortress to Hold on less liquidity risk
- New Fortress Energy upgraded to Hold from Sell at Deutsche Bank
- New Fortress Energy put volume heavy and directionally bearish