New Fortress Energy Closes Financings to Fully Fund 630 MW Barcarena Power Plant; Barcarena LNG Import Terminal to Commence Operations at Year End 2023
07 Noviembre 2023 - 7:00AM
Business Wire
New Fortress Energy Inc. (NASDAQ: NFE) announced that it has
executed definitive agreements with the Brazilian development bank,
Banco Nacional de Desenvolvimento Econômico e Social (“BNDES”), and
funds managed by Lumina Capital Management (“Lumina”) and BTG Asset
Management (“BTG”) to fund up to $575 million in asset-based
financing. These financings will be used to complete construction
of our 630 MW Barcarena power plant, which is approximately 37%
completed pursuant to a fixed-price, date-certain EPC contract with
Mitsubishi and Toyo Setal. The power plant, located adjacent to
NFE’s LNG import terminal at the mouth of the Amazon river, is on
schedule to commence operations in the third quarter of 2025 under
a 25-year power purchase agreement (PPA) with several electricity
distribution companies in Brazil.
The Company’s planned conversion of the Energos Celsius from an
LNG carrier to a Floating Storage and Regasification Unit (“FSRU”)
remains on schedule for November completion, before delivery and
first gas to customers at our Barcarena import terminal beginning
at year end 2023. The Energos Celsius is chartered by NFE from
Energos Infrastructure on a long-term basis.
“We are pleased to work with our partners at BNDES, Lumina, and
BTG, as together we achieved a significant milestone for our
business in Brazil by closing asset-based financing at attractive
rates to fully fund our 630 MW Barcarena power plant. This power
plant will contribute to our portfolio of contracted, long-term
cash flows in Barcarena beginning in the third quarter of 2025.
This will follow contracted cash flows at our Barcarena terminal
from Norsk Hydro and Gás do Pará that commence at year end 2023,"
said Andrew Dete, Managing Director of New Fortress Energy.
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 Language Regarding Forward-Looking
Statements
This communication contains forward-looking statements. All
statements contained in this communication 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,” “predicts,” “intends,”
“plans,” “estimates,” “anticipates,” or the negative version of
these terms or other comparable words. Forward looking statements
include but are not limited to: expectations related to the timing
for when our Barcarena power plant will commence operations and
contribute cash flows, our ability to complete the planned
conversion of the Energos Celsius and the timing for such
conversion, and the expected timing and delivery of first gas from
our Barcarena LNG terminal as well as the timing and receipt of
contracted cash flows.
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: unknown and unforeseen risks related to the
development, construction or commissioning schedule of the
facilities, including failure to meet design and engineering
specifications, incompatibility of systems, delays and schedule
changes, high costs and expenses, and regulatory and legal
challenges, among others; the receipt of permits, approvals and
authorizations from governmental and regulatory agencies on a
timely basis or at all; our inability to operationalize our plans
for the projects and derive the benefits expected; common risks
related to successful integration of the businesses; breach or
failure by the parties to comply with the covenants and obligations
under the agreements; nonpayment or nonperformance of obligations
by the parties; inability to realize the anticipated benefits from
the project or our partnerships; adverse regional, national, or
international economic conditions, adverse capital market
conditions and adverse political developments; business disruption
following the transaction; and the impact of public health crises,
such as pandemics (including coronavirus (COVID-19)) and epidemics
and any related company or government policies and actions to
protect the health and safety of individuals or government policies
or actions to maintain the functioning of national or global
economies and markets. These factors are not necessarily all of the
important factors that could cause actual results to differ
materially from those expressed in any of NFE’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
these forward-looking statements, even though our situation may
change in the future. 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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version on businesswire.com: https://www.businesswire.com/news/home/20231107540080/en/
Investors Chance Pipitone ir@newfortressenergy.com
Media press@newfortressenergy.com
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