New Fortress Energy Places 200+ MW In Service In Puerto Rico And Completes Final Sailaway For FLNG 1
Portfolio Pulse from Benzinga Newsdesk
New Fortress Energy Inc. (NFE) has announced the commencement of its second U.S. government sponsored power plant in Puerto Rico, with a capacity of 200+ MW. This follows the 150 MW facility that began operations in June. Both plants operate under multi-year contracts with the U.S. government. NFE also completed the final sailaway for FLNG 1, marking significant progress in its infrastructure development portfolio. The company expects these projects to contribute significantly to downstream volumes and terminal earnings from Q4 2023.
September 29, 2023 | 12:08 pm
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New Fortress Energy's recent developments, including the launch of a new power plant and the completion of the final sailaway for FLNG 1, indicate progress in its infrastructure portfolio. These projects are expected to significantly boost the company's downstream volumes and terminal earnings from Q4 2023.
The launch of the new power plant and the completion of the final sailaway for FLNG 1 are significant milestones for New Fortress Energy. These developments not only demonstrate the company's progress in expanding its infrastructure portfolio, but also its potential for increased earnings. Given that these projects are expected to contribute significantly to downstream volumes and terminal earnings from Q4 2023, this news is likely to have a positive impact on NFE's stock in the short term.
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