New Fortress Energy Closes Financings To Fully Fund 630 MW Barcarena Power Plant; Barcarena LNG Import Terminal To Commence Operations At Year End 2023
Portfolio Pulse from Benzinga Newsdesk
New Fortress Energy Inc. (NASDAQ:NFE) has secured $575 million in asset-based financing from Banco Nacional de Desenvolvimento Econômico e Social, Lumina Capital Management, and BTG Asset Management. The funds will be used to complete the construction of the 630 MW Barcarena power plant in Brazil, which is 37% complete and is expected to commence operations in Q3 2025. The company's conversion of the Energos Celsius to a Floating Storage and Regasification Unit is on schedule for November completion.
November 07, 2023 | 1:12 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
New Fortress Energy has secured financing to complete the construction of a power plant in Brazil, which is expected to contribute to the company's portfolio of contracted, long-term cash flows beginning in Q3 2025.
The secured financing allows New Fortress Energy to complete the construction of the power plant, which is expected to contribute to the company's long-term cash flows. This is likely to have a positive impact on the company's financial performance and, consequently, its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100