Summary Highlights
- NFE to acquire 1.6 GW Capacity Reserve Contract (“PortoCem PPA”
or “PPA”) in Brazil from CEIBA Energy, a portfolio company of
Denham Capital, in exchange for NFE Convertible Preferred
Stock
- NFE to transfer the PPA to power assets connected to NFE’s
existing LNG terminals in Brazil
- PPA adds more than $280 million of annual fixed capacity
payments under a 15-year contract
- PPA positions NFE as leading LNG-to-power company in Brazil,
the largest economy in South America with a population of over 200
million people who use less than 1/5 the energy of a U.S.
citizen
- Aligns with NFE’s strategy of organic growth through existing
LNG terminals, long-duration, contracted cash flows, and accretive
infrastructure projects in existing geographies
New Fortress Energy Inc. (NASDAQ: NFE) (the “Company”) announced
that it has entered into a definitive agreement to acquire a 1.6 GW
Capacity Reserve Contract (“PortoCem PPA” or “PPA”) from Ceiba
Energy, a portfolio company of Denham Capital, in exchange for
newly issued NFE redeemable Series A Convertible Preferred Stock
and the assumption of certain liabilities from a subsidiary of
Ceiba Energy.
Following customary closing conditions including regulatory
approval for the transfer of the PPA in Brazil, the PPA will
contribute firm capacity payments of $280 million per annum through
its 15-year contract life. NFE expects the transaction to close in
March 2024, with project cash flows expected to begin no later than
July 2026.
NFE plans to leverage its existing infrastructure in Brazil and
transfer the PPA to new power assets connected to NFE’s existing
Brazilian LNG terminals – Barcarena and Terminal Gas Sul (“TGS”).
NFE intends to utilize its existing infrastructure in place in
Barcarena to strategically expand its power complex by 1.2 GW, with
an expected Commercial Operations Date (“COD”) for the expansion in
2026. NFE’s original 630 MW development in Barcarena remains on
schedule for COD in the third quarter of 2025. NFE plans to
transfer the remaining 0.4 GW of the PPA to another power
generation asset that connects to its TGS terminal. By using its
existing asset base, NFE expects to reduce costs and generate
incremental throughput and earnings at its terminals.
With the acquisition of the PPA, NFE adds significant downstream
power infrastructure to its asset base, enabling further
utilization of its existing terminal infrastructure in Barcarena
and TGS. The TGS terminal is uniquely positioned to continue to
alleviate natural gas supply issues for more than 3 GW of existing
industrial and power generation customers who currently experience
limitations on supply in the region.
“We are extremely pleased to expand our business in Brazil and
cement NFE as a leading provider of clean, reliable energy to one
of the fastest growing economies in the world," said Wes Edens,
Chairman and CEO of New Fortress Energy. “With today’s acquisition
of the PortoCem PPA, we add a contracted, long-duration asset that
is highly complementary to our Brazilian footprint. This aligns
with our strategy to vertically integrate and optimize our assets
in an effort to drive shareholder value over the long-term,” said
Andrew Dete, Managing Director of New Fortress Energy.
“We are pleased to support NFE’s efforts to expand their
activities in Brazil. This transaction will allow the Brazilian
power market to benefit from clean capacity reserve consistent with
the country’s stated goal of providing reliable power capacity
supporting renewable power resources. Importantly as well, the
transaction enables Ceiba Energy to continue developing its LNG
import energy hub in the State of Ceara,” said Emilio Vicens, Chief
Executive Officer of Ceiba Energy.
The closing of the transaction is subject to customary terms and
conditions, including regulatory approval for the transfer of the
PortoCem PPA to NFE terminal sites.
BTG Pactual acted as Ceiba Energy’s financial advisor.
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 Ceiba Energy
Founded in 2015, Ceiba Energy is an owner, developer, and
operator of power generation assets in Latin America. In
particular, the Company focuses on delivering renewable, low-carbon
and affordable power generation. The Ceiba management team brings
an in-depth understanding of Latin American power markets and
assets. The team has more than 80 years of combined power
generation and energy infrastructure experience in Latin America
and emerging markets. For more information, visit
www.ceibaenergy.com.
About Denham Capital
Founded in 2004, Denham Capital is a global Energy Transition
investment firm, having raised more than $12 billion (which
includes funds now managed by Trace Capital) of capital across
multiple sectors. Specializing in private equity, infrastructure
and credit, we invest in sectors that are central to the economic
and resource transitions happening globally. We deliver the metals
and minerals and sustainable infrastructure needed for today and
tomorrow.
Denham Capital sponsors entrepreneurs, delivering the financial
resources and industry expertise needed to create and grow
successful infrastructure and resource businesses. We seek to
establish long term partnerships with entrepreneurs and companies
who share our vision for growth and value creation. Our investment
teams have extensive renewable power, infrastructure and mining
investment experience, including technical experience as engineers,
operators, and business owners.
Our firm is built on a foundation of experience, fairness,
economic rationale, flexibility and trust, and we bring these
values into every opportunity we pursue. We believe our tactical
familiarity within our industry sectors along with a disciplined
approach centered around fairness and shared success make us an
ideal partner.
For more information, visit www.denhamcapital.com
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: our ability to close, and the
timing of the closing, of our acquisition of the PPA, including our
receiving the required regulatory approvals, expectations related
to the amounts of annual fixed capacity payments under the PPA, our
ability to transfer the PPA and expectations related to the timing
for when our Santa Catarina power complex will commence operations
and complete its expansion as well as our ability to finance that
construction.
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: failure to achieve the terms and conditions to
acquiring the PPA, including not receiving the required regulatory
approvals, failure to receive the expected fixed payments under our
contracts, unknown and unforeseen risks related to the development,
construction or commissioning schedule of the Santa Catarina power
complex, 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; failure to receive expected financing on
terms acceptable to NFE; 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
NFE’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/20231227673055/en/
NFE Investors Chance Pipitone ir@newfortressenergy.com
Media NFE - press@newfortressenergy.com Ceiba/Denham -
denhamcapital@fticonsulting.com
New Fortress Energy (NASDAQ:NFE)
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New Fortress Energy (NASDAQ:NFE)
過去 株価チャート
から 5 2023 まで 5 2024