New Fortress Energy Announces Sale of Jamaica Assets & Operations to Excelerate Energy
New Fortress Energy (NFE) has announced the sale of its Jamaican assets and operations to Excelerate Energy for $1.055 billion. The transaction, expected to close in Q2 2025, includes NFE's LNG import terminal in Montego Bay, offshore floating storage and regasification terminal in Old Harbour, and 150 MW Combined Heat and Power Plant in Clarendon.
The proceeds will be used to reduce NFE's corporate debt and for general corporate purposes. Since entering Jamaica in 2016, NFE has contributed to the country's energy transition, generating significant fuel savings and reducing dependence on oil-based fuels. The deal represents a strategic move to optimize NFE's asset portfolio and enhance financial flexibility.
New Fortress Energy (NFE) ha annunciato la vendita dei suoi beni e operazioni in Giamaica a Excelerate Energy per 1,055 miliardi di dollari. La transazione, che dovrebbe concludersi nel secondo trimestre del 2025, include il terminal di importazione di GNL di NFE a Montego Bay, il terminal di stoccaggio galleggiante e rigassificazione offshore a Old Harbour e una centrale di cogenerazione da 150 MW a Clarendon.
I proventi saranno utilizzati per ridurre il debito aziendale di NFE e per scopi aziendali generali. Dall'ingresso in Giamaica nel 2016, NFE ha contribuito alla transizione energetica del paese, generando significativi risparmi sui combustibili e riducendo la dipendenza dai combustibili a base di petrolio. L'accordo rappresenta una mossa strategica per ottimizzare il portafoglio di asset di NFE e migliorare la flessibilità finanziaria.
New Fortress Energy (NFE) ha anunciado la venta de sus activos y operaciones en Jamaica a Excelerate Energy por 1.055 mil millones de dólares. La transacción, que se espera cierre en el segundo trimestre de 2025, incluye la terminal de importación de GNL de NFE en Montego Bay, la terminal de almacenamiento y regasificación flotante en Old Harbour, y una planta de energía combinada de 150 MW en Clarendon.
Los ingresos se utilizarán para reducir la deuda corporativa de NFE y para fines corporativos generales. Desde su entrada en Jamaica en 2016, NFE ha contribuido a la transición energética del país, generando ahorros significativos en combustible y reduciendo la dependencia de combustibles derivados del petróleo. El acuerdo representa un movimiento estratégico para optimizar la cartera de activos de NFE y mejorar la flexibilidad financiera.
New Fortress Energy (NFE)는 자메이카 자산 및 운영을 Excelerate Energy에 10억 5500만 달러에 판매한다고 발표했습니다. 이번 거래는 2025년 2분기에 완료될 것으로 예상되며, NFE의 몬테고 베이 LNG 수입 터미널, 올드 하버의 해양 부유 저장 및 재기화 터미널, 클라렌돈의 150MW 열병합 발전소가 포함됩니다.
수익금은 NFE의 기업 부채를 줄이고 일반 기업 용도로 사용될 것입니다. 2016년 자메이카에 진출한 이후, NFE는 국가의 에너지 전환에 기여하여 상당한 연료 절약을 이루고 석유 기반 연료에 대한 의존도를 줄였습니다. 이번 거래는 NFE의 자산 포트폴리오를 최적화하고 재무 유연성을 향상시키기 위한 전략적 조치를 나타냅니다.
New Fortress Energy (NFE) a annoncé la vente de ses actifs et opérations en Jamaïque à Excelerate Energy pour 1,055 milliard de dollars. La transaction, qui devrait se clôturer au deuxième trimestre 2025, comprend le terminal d'importation de GNL de NFE à Montego Bay, le terminal de stockage flottant et de regazéification offshore à Old Harbour, et une centrale de cogénération de 150 MW à Clarendon.
Les produits seront utilisés pour réduire la dette de NFE et pour des fins d'entreprise générales. Depuis son arrivée en Jamaïque en 2016, NFE a contribué à la transition énergétique du pays, générant des économies de carburant significatives et réduisant la dépendance aux combustibles à base de pétrole. Cet accord représente un mouvement stratégique pour optimiser le portefeuille d'actifs de NFE et améliorer la flexibilité financière.
New Fortress Energy (NFE) hat den Verkauf seiner jamaikanischen Vermögenswerte und Betriebe an Excelerate Energy für 1,055 Milliarden Dollar angekündigt. Die Transaktion, die im zweiten Quartal 2025 abgeschlossen werden soll, umfasst NFE's LNG-Importterminal in Montego Bay, das Offshore-Speicher- und Regasifizierungsterminal in Old Harbour sowie ein 150 MW-Kraft-Wärme-Kopplungswerk in Clarendon.
Die Erlöse werden verwendet, um die Unternehmensschulden von NFE zu reduzieren und für allgemeine Unternehmenszwecke. Seit dem Eintritt in Jamaika im Jahr 2016 hat NFE zur Energiewende des Landes beigetragen, erhebliche Kraftstoffeinsparungen erzielt und die Abhängigkeit von erdölbasierten Brennstoffen verringert. Der Deal stellt einen strategischen Schritt dar, um NFE's Vermögensportfolio zu optimieren und die finanzielle Flexibilität zu erhöhen.
- Substantial cash inflow of $1.055 billion from asset sale
- Debt reduction opportunity strengthening balance sheet
- Strategic portfolio optimization enhancing financial flexibility
- Loss of revenue-generating assets in Jamaica
- Reduction in geographical market presence and operational scale
Insights
The $1.055 billion sale of NFE's Jamaican assets represents a significant financial transaction at approximately 33% of the company's current $3.16 billion market capitalization. This substantial cash infusion earmarked for debt reduction comes at a strategic time for NFE, potentially transforming its balance sheet strength and financial flexibility.
The transaction's debt reduction focus addresses what has been a concern for NFE investors. With proceeds explicitly allocated to corporate debt reduction, this move should improve NFE's debt-to-equity ratio, potentially lowering interest expenses and enhancing financial stability. For a company with NFE's market cap, removing over a billion dollars in debt obligations could substantially improve its financial risk profile and borrowing capabilities.
While the divestiture removes recurring revenue streams from Jamaica operations, the cash-to-asset value exchange appears favorable. The deal's structure as a clean exit from the Jamaican market eliminates operational complexities while providing immediate liquidity. Most critically, this transaction aligns with management's stated portfolio optimization strategy, demonstrating execution capability on streamlining initiatives that could drive shareholder value through improved capital allocation.
NFE's strategic exit from Jamaica represents a decisive portfolio reshaping move that capitalizes on the value of established LNG infrastructure assets. The $1.055 billion transaction encompasses critical energy assets including the Montego Bay import terminal, offshore floating storage and regasification terminal, and a 150 MW Combined Heat and Power Plant - infrastructure that has successfully transformed Jamaica's energy landscape since 2016.
This divestiture reflects the maturing LNG infrastructure market where early developers can monetize developed assets at premium valuations once stabilized. NFE effectively pioneered Jamaica's transition from oil-based fuels, creating infrastructure value that Excelerate now acquires as an established operation. The transaction timing suggests NFE has maximized the value-creation phase of these assets and now captures that value to redeploy capital.
For Excelerate, this acquisition aligns with their strategy of connecting LNG supply to downstream markets, instantly providing them established infrastructure and customer relationships. The operational handover, expected in Q2 2025, should maintain continuity for Jamaica's energy needs while allowing NFE to focus resources on higher-growth opportunities. This transaction demonstrates NFE's lifecycle approach to energy infrastructure development - building, stabilizing, then monetizing mature assets to fuel new growth initiatives.
The transaction includes the sale of NFE’s LNG import terminal in
Since entering
“This transaction with Excelerate is a meaningful step as we continue to streamline our operations,” said Wes Edens, Chairman and CEO of New Fortress Energy. “We are proud of the contributions we have made to Jamaica’s energy transition. Our Jamaican assets and employees are world-class and have played a significant role in improving both the cost and reliability of energy on the island, and we are confident that Excelerate will continue to drive meaningful progress for Jamaica’s energy future.”
“Excelerate is committed to connecting affordable LNG supply to downstream demand centers around the world. We are pleased to have the opportunity to build on the success of NFE’s Jamaican assets,” said Steven Kobos, President and CEO of Excelerate Energy. “This acquisition will allow us to provide reliable, sustainable, and cost-effective energy solutions to the people of
Advisors
Intrepid Financial Partners acted as financial advisor and Vinson & Elkins LLP acted as legal counsel to NFE.
About New Fortress Energy Inc.
New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The Company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the Company’s assets and operations reinforce global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world.
About Excelerate Energy
Excelerate Energy, Inc. is a
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This press release contains certain statements and information that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. You can identify these forward-looking statements by the use of forward-looking words such as “expects,” “may,” “will,” “can,” “could,” “should,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” “believes,” “schedules,” “progress,” “targets,” “budgets,” “outlook,” “trends,” “forecasts,” “projects,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” or the negative version of those words or other comparable words. Forward looking statements include statements regarding the proposed transaction, including deleveraging following the closing of the transaction and other anticipated benefits from the transaction. These forward-looking statements are based upon current information and involve a number of risks, uncertainties and other factors, many of which are outside of the Company’s control. Actual results or events may differ materially from the results or events anticipated in these forward-looking statements. Specific factors that could cause actual results or events to differ from those in the forward-looking statements include, but are not limited to: our success in executing and completing, including satisfying closing conditions for, the sale of our
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Source: New Fortress Energy Inc.
FAQ
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