March 2024
Investor Update
Puerto Rico
Last year, we installed 425 MW of fast power in Puerto Rico
2 plants built in less than 180 days
Palo Seco Fast Power 175 MW
Our goal:
San Juan Fast Power 250MW
Create reliable base load power to stabilize power grid, which had been damaged by hurricanes & natural disasters over the past several years
We have closed two transactions that further strengthen
Puerto Rico's grid & enhance our earnings profile
Transaction 1: Sale of two operating power plants
Concurrent with the sale, existing 2-year power leases were ended
Taking place approximately halfway through the term of the contract
In dialogue with Weston and Army Corps on settlement for early termination & optimistic about a mutually equitable solution
Units transferred to PREPA on March 16th with no disruption in service
(i)Subject to certain items and conditions.
Transaction 2: Island-wide 80 TBtu gas supply contract(2)
Potential to save $1bn+ in fuel costs & avoid 7.3mm tonnes in CO2 emissions for Puerto Ricans
3,700 MW fuel switch opportunity in Puerto Rico
(i)
Illustrative calculation. LUMA peak demand is ~2,575 MW.
Brazil
Brazil
We have completed construction & commissioning of our Brazil terminals
Barcarena: The Amazon's sole entry point for natural gas
Contract with Norsk Hydro
COD: March 2024, 30 TBtu, 15-yr(4)
630 MW Barcarena Power Plant
COD: July 2025, 25-yr PPA, 16 TBtu(4)
1.6 GW New Power Plant
COD: July 2026, 15-yr PPA, $180/kW capacity payment(4)
TGS: Uniquely positioned to serve growing demand in S. Brazil
Connected to TBG pipeline
Pipeline system currently supplies >300 TBtu per year
Connected to >3.5 GW of existing power without firm gas contracts
Upcoming power auction in 2024
Opportunity to be firm gas supplier for >3 GW of existing & permitted greenfield projects
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Disclaimer
New Fortress Energy Inc. published this content on 25 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 March 2024 13:07:12 UTC.