New Fortress Energy to lease 10 mobile turbines to U.S. customer
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New Fortress Energy (NFE) rose 1% post-market Thursday after saying it agreed to lease 10 mobile turbines capable of generating up to 300 MW of power to an unnamed "U.S.-based investment-grade company."
The lease has an initial period of five years, with turbine deliveries taking place between Q4 2026 and Q1 2027; the deal is expected to be accretive to the company's earnings, but financial terms were not disclosed.
The transaction will provide "significant, high-quality cash flows, puts our assets to work more quickly than alternative uses, and serves the growing demand for power in the USA," New Fortress (NFE) CEO Wes Edens said.
The company also confirmed its FLNG 1 liquefier remains on track to return to service in Q4 based on its most recent discussions with the turbine manufacturer.
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