New Fortress Energy has executed definitive agreements with the Brazilian development bank, Banco Nacional de Desenvolvimento Econômico e Social (BNDES), and funds managed by Lumina Capital Management (Lumina) and BTG Asset Management (BTG) to fund up to $575 million in asset-based financing.
These financings will be used to complete construction of the firm’s 630-megawatt (MW) Barcarena power plant, which is approximately 37 percent completed pursuant to a fixed-price, date-certain EPC contract with Mitsubishi and Toyo Setal. The power plant, located adjacent to NFE’s LNG import terminal at the mouth of the Amazon River, is on schedule to commence operations in the third quarter of 2025 under a 25-year power purchase agreement (PPA) with several electricity distribution companies in Brazil.
The company’s planned conversion of the Energos Celsius from an LNG carrier to a Floating Storage and Regasification Unit (FSRU) remains on schedule for November completion,