New Fortress Energy Inc. announced on March 27, 2025, that it has finalized a transaction to sell its assets and operations in Jamaica to Excelerate Energy, Inc. for $1.055 billion in cash. The transaction is expected to close in the second quarter of 2025.
The divestiture includes New Fortress Energy's LNG import terminal in Montego Bay, the offshore floating storage and regasification terminal in Old Harbour, and the 150 MW Combined Heat and Power Plant in Clarendon, along with associated infrastructure.
Proceeds from this significant transaction are intended to reduce New Fortress Energy's corporate debt and be used for general corporate purposes. This sale marks a key step in the company’s strategy to optimize its asset portfolio and enhance financial flexibility.
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