Welcome to our dedicated page for New Fortress Energy news (Ticker: NFE), a resource for investors and traders seeking the latest updates and insights on New Fortress Energy stock.
New Fortress Energy Inc. (NASDAQ: NFE) generates frequent news as a global energy infrastructure company focused on natural gas and liquefied natural gas (LNG). Its disclosures highlight an integrated business that spans LNG production, shipping, terminals and gas-to-power projects, making corporate developments, project milestones and financing decisions important for investors and stakeholders following NFE news.
News about New Fortress Energy often centers on long-term gas supply agreements, LNG and power project milestones, and capital structure actions. For example, the company has reported multi-year gas supply agreements with Puerto Rican authorities to support the island’s energy transition and grid stability. It has also announced progress at its CELBA 2 and PortoCem power plants in Brazil, as well as performance and optimization of its Fast LNG facility offshore Altamira, Mexico.
Another recurring theme in NFE news is financing and restructuring activity. The company has disclosed a forbearance agreement with holders of its 12.000% Senior Secured Notes due 2029 after a missed interest payment, along with multiple amendments to letter of credit facilities to adjust covenants and maturities. NFE has also announced a process to evaluate strategic alternatives, including asset sales, capital raising, debt amendments and refinancing transactions aimed at improving liquidity and its capital structure.
Operational and portfolio updates also feature prominently. New Fortress Energy has reported the sale of its Jamaican LNG and power assets to Excelerate Energy, Inc., long-term FSRU charters with the Egyptian Natural Gas Holding Company (EGAS), and commissioning milestones at its Brazilian power plants. Regulatory and listing updates, such as Nasdaq notices related to delayed Form 10-Q filings, provide additional context for NFE’s reporting and compliance status.
Investors and observers can use the NFE news page on Stock Titan to follow these developments, track project and contract announcements, and monitor disclosures related to the company’s debt, liquidity and strategic initiatives over time.
Sagicor Group Jamaica has announced a US$285 million sale and leaseback of a combined heat and power plant in Clarendon owned by New Fortress Energy (NFE). This marks the largest corporate financing in Jamaica's history. Sagicor will invest US$100 million as anchor investors, with US$185 million raised from other investors. Both companies emphasize the partnership's significance for Jamaica's energy transition and economic growth. The transaction awaits regulatory approval and customary closing conditions.
New Fortress Energy reported its Q1 2021 financial results, showing stable revenues of $145.7 million but a net loss of $39.5 million, attributed to higher LNG costs and acquisition expenses. The company successfully acquired Hygo Energy and Golar LNG Partners for a total of $5.1 billion. NFE announced a $0.10 dividend per share, record date June 1, 2021, payment date June 11, 2021. Future projects are progressing on schedule, including terminals in Mexico and Nicaragua, and a joint venture in renewable fuels called Zero Parks to commercialize low-carbon solutions.
New Fortress Energy Inc. (NASDAQ: NFE) has announced a cash distribution of $0.546875 per Series A preferred unit (NASDAQ: GMLPP) for the period from February 15, 2021 to May 14, 2021. This distribution will be payable on May 17, 2021 to all unitholders of record as of May 10, 2021. New Fortress Energy is focused on accelerating the transition to clean energy by funding, building, and operating natural gas infrastructure.
New Fortress Energy (NASDAQ: NFE) will release its Q1 2021 financial results on May 7, 2021, before 8:00 A.M. Eastern Time. The press release and earnings supplement will be available on the company’s Investors section of its website.
Management will host a conference call on the same day at 8:00 A.M. ET, accessible through specific phone numbers for U.S. and international participants. A replay will be available until May 14, 2021. New Fortress Energy aims to accelerate the transition to clean energy through its natural gas infrastructure solutions.
New Fortress Energy (NFE) has successfully completed the acquisition of Golar LNG Partners (GMLP) on April 15, 2021. NFE purchased all outstanding common units of GMLP at $3.55 per unit. Following the acquisition, GMLP's board approved the delisting of its 8.75% Series A Cumulative Redeemable Preferred Units, effective on or about May 13, 2021. The delisting follows NASDAQ's notification that the Preferred Units do not meet listing requirements, and GMLP will also suspend its reporting obligations regarding the Units.
TortoiseEcofin announced on April 15, 2021, that Golar LNG Partners LP (NASDAQ:GMLP) will be removed from the Tortoise MLP Index due to its merger with New Fortress Energy Inc (NASDAQ:NFE). This removal will take effect at market open on April 19, 2021. GMLP's removal is executed without a special rebalancing, as its current weight falls below the threshold that would necessitate such action. The Tortoise MLP Index is focused on energy master limited partnerships (MLPs) and serves as a capitalization-weighted index.
New Fortress Energy (NASDAQ: NFE) announced a 15-year Memorandum of Understanding with Norsk Hydro to supply natural gas to the Alunorte Alumina Refinery in Pará, Brazil. This partnership aims to convert the refinery's calcination process from fuel oil to natural gas, reducing emissions by around 20%. NFE will deliver an agreed minimum quantity of gas from its Barcarena LNG terminal, anticipated to be operational by 2022. The agreement is subject to final documentation and commercial arrangements.
New Fortress Energy has successfully acquired Hygo Energy Transition and Golar LNG Partners for a total enterprise value of $5.1 billion. This includes 31.37 million shares of NFE and $580 million in cash for Hygo, along with the purchase of Golar’s common units at $3.55 each. This strategic move enhances NFE's position as a leading gas-to-power provider, with a portfolio that includes multiple floating storage and regasification units (FSRUs) and a significant power plant in Brazil. The acquisition is expected to drive NFE’s growth in the clean energy market.
New Fortress Energy (NASDAQ: NFE) has signed a Gas Supply Agreement with CFEnergia SA de CV, a subsidiary of Mexico’s Federal Electricity Commission. This agreement will see NFE supply 250,000-500,000 gallons of LNG daily to CFE’s power plants in Baja California Sur, Mexico, starting in May through its terminal in Pichilingue. CEO Wes Edens highlighted that this contract is aimed at supporting CFE’s shift to cleaner energy, generating significant fuel savings and reducing emissions for local residents.
New Fortress Energy announced the pricing of a private offering of $1.5 billion senior secured notes due 2026, bearing an interest of 6.500% per annum. The notes will be secured by collateral similar to existing senior secured notes and guaranteed by wholly-owned subsidiaries. Proceeds will finance the acquisition of Golar LNG Partners and cover corporate expenses. A special mandatory redemption clause requires redemption if the acquisition isn't completed by October 13, 2021. The offering is for qualified institutional buyers and is not registered under the Securities Act.