New Fortress Energy Signs Gas Supply Agreement with Energiza in Puerto Rico
New Fortress Energy (NFE) has announced a significant 20-year gas supply agreement with Energiza for a new 478 MW combined-cycle power plant in San Juan, Puerto Rico. The facility, positioned next to NFE's existing San Juan LNG import terminal, will be Puerto Rico's first new power plant since 1995 and is scheduled to begin operations in 2028.
The power plant aims to modernize Puerto Rico's aging power infrastructure by providing a cleaner and more reliable energy source. This partnership represents a strategic expansion of NFE's gas supply operations in the Caribbean region.
New Fortress Energy (NFE) ha annunciato un importante accordo di fornitura di gas della durata di 20 anni con Energiza per una nuova centrale elettrica a ciclo combinato da 478 MW a San Juan, Porto Rico. L'impianto, situato accanto all'attuale terminal di importazione di LNG di NFE a San Juan, sarà la prima nuova centrale elettrica di Porto Rico dal 1995 e dovrebbe iniziare le operazioni nel 2028.
La centrale elettrica mira a modernizzare l'infrastruttura energetica obsoleta di Porto Rico fornendo una fonte di energia più pulita e affidabile. Questa partnership rappresenta un'espansione strategica delle operazioni di fornitura di gas di NFE nella regione caraibica.
New Fortress Energy (NFE) ha anunciado un importante acuerdo de suministro de gas de 20 años con Energiza para una nueva planta de energía de ciclo combinado de 478 MW en San Juan, Puerto Rico. La instalación, ubicada junto al actual terminal de importación de LNG de NFE en San Juan, será la primera nueva planta de energía de Puerto Rico desde 1995 y tiene previsto comenzar operaciones en 2028.
La planta de energía tiene como objetivo modernizar la infraestructura energética envejecida de Puerto Rico al proporcionar una fuente de energía más limpia y confiable. Esta asociación representa una expansión estratégica de las operaciones de suministro de gas de NFE en la región del Caribe.
New Fortress Energy (NFE)가 푸에르토리코 산후안에 있는 새로운 478 MW 결합 사이클 발전소를 위한 20년 가스 공급 계약을 Energiza와 체결했습니다. 이 시설은 NFE의 기존 산후안 LNG 수입 터미널 옆에 위치하며, 1995년 이후 푸에르토리코의 첫 번째 새로운 발전소로 2028년부터 운영될 예정입니다.
이 발전소는 푸에르토리코의 노후화된 전력 인프라를 현대화하고 더 깨끗하고 신뢰할 수 있는 에너지 공급원을 제공하는 것을 목표로 하고 있습니다. 이 파트너십은 카리브해 지역에서 NFE의 가스 공급 작업의 전략적 확장을 나타냅니다.
New Fortress Energy (NFE) a annoncé un accord d'approvisionnement en gaz significatif de 20 ans avec Energiza pour une nouvelle centrale électrique à cycle combiné de 478 MW à San Juan, Porto Rico. L'installation, située à côté du terminal d'importation de GNL existant de NFE à San Juan, sera la première nouvelle centrale électrique de Porto Rico depuis 1995 et devrait commencer ses opérations en 2028.
La centrale vise à moderniser l'infrastructure énergétique vieillissante de Porto Rico en fournissant une source d'énergie plus propre et plus fiable. Ce partenariat représente une expansion stratégique des opérations d'approvisionnement en gaz de NFE dans la région des Caraïbes.
New Fortress Energy (NFE) hat einen bedeutenden 20-jährigen Gasliefervertrag mit Energiza für ein neues 478 MW-Kraftwerk mit kombinierter Kraft-Wärme-Nutzung in San Juan, Puerto Rico, bekannt gegeben. Die Anlage, die neben dem bestehenden LNG-Importterminal von NFE in San Juan stehen wird, wird das erste neue Kraftwerk in Puerto Rico seit 1995 sein und soll im 2028 in Betrieb genommen werden.
Das Kraftwerk zielt darauf ab, die alternde Energieinfrastruktur von Puerto Rico zu modernisieren, indem es eine sauberere und zuverlässigere Energiequelle bereitstellt. Diese Partnerschaft stellt eine strategische Expansion der Gaslieferungsaktivitäten von NFE in der Karibikregion dar.
- Secured long-term 20-year gas supply agreement
- Strategic positioning next to existing LNG terminal reduces infrastructure costs
- First-mover advantage in Puerto Rico's power generation market since 1995
- Guaranteed long-term revenue stream through 478 MW power plant supply contract
- 5-year wait until revenue generation (operations starting 2028)
- Significant capital commitment required for infrastructure development
Insights
This groundbreaking 20-year gas supply agreement represents a major strategic win for New Fortress Energy, significantly strengthening its foothold in the Puerto Rico energy market. The deal's importance stems from multiple factors:
The agreement will support Puerto Rico's first new power plant in over three decades, a 478 MW combined-cycle facility strategically located adjacent to NFE's existing LNG terminal in San Juan. This positioning creates substantial operational efficiencies and competitive advantages in gas delivery.
From a financial perspective, 20-year supply agreements are particularly valuable in the LNG industry as they provide:
- Predictable, long-term revenue streams that can support infrastructure investments
- Protection against market volatility
- Enhanced bankability for future projects
The timing is especially strategic given Puerto Rico's aging power infrastructure and the increasing demand for cleaner energy sources. The island's power system has faced significant reliability challenges and this modern combined-cycle plant will help address these issues while potentially creating additional opportunities for NFE in the region.
Looking ahead, this contract positions NFE to potentially capture more market share as Puerto Rico continues its energy transition. The agreement not only secures a steady revenue stream through 2048 but also demonstrates NFE's ability to execute on its infrastructure-led growth strategy in key markets.
However, investors should note that the project's 2028 operational timeline means revenue impact won't be immediate. The extended timeline also introduces execution risks related to construction delays or regulatory changes, though these are mitigated by NFE's established presence in the market and track record of successful project delivery.
“The long-term partnership between Energiza and NFE will greatly benefit
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.
Cautionary Statement Concerning Forward-Looking Statements
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 our expectation regarding the development of the Energiza power plant as well as the expected timing of the power plant’s operations. These forward-looking statements are necessarily estimates 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 anticipated in these forward-looking statements. Specific factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to: risks related to the development, construction, completion or commissioning schedule for the Energiza power plant; risks related to the operation and maintenance of the power plant; failure of third-party contractors, equipment manufacturers, suppliers and operators to perform their obligations for the development, construction and operation of the power plant; the receipt of permits, approvals and authorizations from governmental and regulatory agencies on a timely basis or at all. These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of the Company’s forward-looking statements. Other known or unpredictable factors could also have material adverse effects on future results. Any forward-looking statement speaks only as of the date on which it is made, and we undertake no duty to update or revise any forward-looking statements, even though our situation may change in the future or we may become aware of new or updated information relating to such forward-looking statements. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in New Fortress Energy Inc.’s annual and quarterly reports filed with the Securities and Exchange Commission, which could cause its actual results to differ materially from those contained in any forward-looking statement.
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Source: New Fortress Energy Inc.
FAQ
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