1. NFE achieved first fire at CELBA 2 Power Plant in Brazil. 2. CELBA 2's commercial operations are expected later this year. 3. Integrated gas and power infrastructure will support regional energy needs. 4. NFE's Barcarena terminal has 2.2 GW of power under development. 5. Upcoming power auctions in Brazil present further opportunities for NFE.
The achievement of first fire enhances operational credibility and attracts investments, similar to operational milestones seen with emerging entities like NextEra Energy. Such progress often correlates with stock price appreciation.
Significant operational milestones typically influence investor sentiment, especially for companies in the energy sector aiming for expansion and development in emerging markets.
The commercial operations and power development contribute to long-term revenue growth and market positioning, similar to other power generation expansions which have provided sustained financial growth over years.
New Fortress Energy Inc. (NASDAQ:NFE) (the "Company") today announced that it has achieved first fire at its 624 MW CELBA 2 Power Plant in northern Brazil, marking a major operational milestone toward commercial operations.
The first fire signifies the successful initial ignition of the plant's gas turbines and the start of the hot commissioning process. COD for the plant is expected later this year.
Once operational, CELBA 2 will provide reliable power to the region through NFE's integrated gas and power infrastructure in Barcarena.
"First fire at CELBA 2 represents another significant achievement for our operations in Brazil," said Jeremy Dawson, Managing Director at New Fortress Energy.
"Our Barcarena terminal has a total of 2.2 GW of power under development, including the 624 MW CELBA 2 Power Plant and the 1.6 GW PortoCem Power Plant," said Leandro Cunha, Managing Director at New Fortress Energy. "PortoCem is fully financed, construction is approximately 75% complete, and the project is expected to begin operations by August 2026. In addition to our existing portfolio, we are well positioned to participate in Brazil's upcoming power auctions scheduled for March."
About New Fortress Energy Inc.
New Fortress Energy Inc. (NASDAQ:NFE) is a global energy infrastructure company founded to address energy poverty and accelerate the world's transition to reliable, affordable, and clean energy. The Company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the Company's assets and operations reinforce global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world.
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This press release contains certain statements and information that may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. You can identify these forward-looking statements by the use of forward-looking words such as "expects," "may," "will," "can," "could," "should," "predicts," "intends," "plans," "estimates," "anticipates," "believes," "schedules," "progress," "targets," "budgets," "outlook," "trends," "forecasts," "projects," "guidance," "focus," "on track," "goals," "objectives," "strategies," "opportunities," "poised," or the negative version of those words or other comparable words. Forward looking statements include our expectations regarding the execution of the gas supply contract. These forward-looking statements are necessarily estimates based upon current information and involve a number of risks, uncertainties and other factors, many of which are outside of the Company's control. Actual results or events may differ materially from the results anticipated in these forward-looking statements. Specific factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to: risks related to the operation and maintenance of our facilities; failure of third-party contractors, equipment manufacturers, suppliers and operators to perform their obligations for the development, construction and operation of the power plant; the receipt of permits, approvals and authorizations from governmental and regulatory agencies on a timely basis or at all. These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of the Company's forward-looking statements. Other known or unpredictable factors could also have material adverse effects on future results. Any forward-looking statement speaks only as of the date on which it is made, and we undertake no duty to update or revise any forward-looking statements, even though our situation may change in the future or we may become aware of new or updated information relating to such forward-looking statements. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in New Fortress Energy Inc.'s annual and quarterly reports filed with the Securities and Exchange Commission, which could cause its actual results to differ materially from those contained in any forward-looking statement.
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