New Fortress Energy Inc (NASDAQ: NFE) has entered into an agreement with Comisión Federal de Electricidad (CFE) as part of a growing strategic alliance.
The agreement includes expanding and extending NFE’s natural gas supply to multiple CFE power generation facilities in Baja California Sur, selling NFE’s 135 MW La Paz power plant to CFE, and creating a new LNG hub off the coast of Altamira, Tamaulipas.
“We are pleased to expand our strategic alliance with CFE, which will enhance clean energy security for Mexico and enable the construction of a new LNG hub off the coast of Altamira,” said Wes Edens, Chairman, and CEO of NFE.
Price Action: NFE shares are trading lower by 3.33% at $38.29 on the last check Tuesday.
New Fortress Energy Inc. is a branch of Fortress Investment Group, is a US-based company established in 2014 in New York which offers services of energy, logistics, and financing services. New Fortress Energy (“NFE”) is a fully integrated, a global provider of natural gas-fueled energy solutions.