New Fortress

New Fortress Energy Announces $725 Million Shipping Term Loan Facility

Retrieved on: 
Tuesday, September 21, 2021
Oil, Gas, Energy, New Fortress, Risk, NASDAQ, LIBOR, Wes Edens, Company, Growth, Investment, Freight transport, SEC, NFE, Security (finance), Bank, Renewable energy

New Fortress Energy Inc. (NASDAQ: NFE) (New Fortress or the Company) announced today that it has executed a term loan facility secured by eight Company vessels (the Shipping Facility).

Key Points: 
  • New Fortress Energy Inc. (NASDAQ: NFE) (New Fortress or the Company) announced today that it has executed a term loan facility secured by eight Company vessels (the Shipping Facility).
  • The Company made an initial borrowing of $430 million and can borrow up to $725 million under the Shipping Facility.
  • The Shipping Facility has a three-year term, and loans issued under the facility will bear interest at an annual rate equal to LIBOR plus 3.00%, subject to a 0.0% LIBOR floor.
  • New Fortress Energy is a global energy infrastructure company founded to help accelerate the worlds transition to clean energy.

New Fortress Energy Finalizes Contract with Government of Sri Lanka for LNG Terminal, Investment into 310 MW Yugadanavi Power Plant, and Gas Supply to Country’s Power Plants

Retrieved on: 
Tuesday, September 21, 2021
Commercial Building & Real Estate, Construction & Property, Professional Services, Other Energy, Utilities, Oil, Gas, Other Professional Services, Alternative Energy, Energy, Other Construction & Property, Finance, Crown Landing LNG Terminal, New Fortress, Plant, Risk, Security (finance), Progress Energy Inc, General Electric, NASDAQ, U.S. Securities and Exchange Commission, NFE, Population, Wes Edens, Ownership, Natural gas, Government, CEO, Communication, Terminology, Growth, WCP, British thermal unit, View, Public Seal of the Democratic Socialist Republic of Sri Lanka, Economic development, Electricity, Terminal, Renewable energy, Risk management

The 310 MW Yugadanavi Power Plant currently has a long-term power purchase agreement to provide electricity to the national grid that extends through 2035.

Key Points: 
  • The 310 MW Yugadanavi Power Plant currently has a long-term power purchase agreement to provide electricity to the national grid that extends through 2035.
  • This power plant consists of General Electric turbines and is configured to run on natural gas in combined cycle.
  • The Kerawalapitya Power Complex is the foundation of the baseload power that serves the countrys population of 22 million people.
  • About New Fortress Energy Inc.
    New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help accelerate the worlds transition to clean energy.