New Fortress Energy to Lease 10 Mobile Turbines to U.S. Customer

Dow Jones06:31

New Fortress Energy agreed to lease ten mobile turbines capable of generating up to 300 megawatts of power to a U.S. customer.

The lease has an initial period of five years, with turbine deliveries taking place between the fourth quarter of 2026 and the first quarter of 2027. The company didn't identify the customer, describing it only as a "U.S.-based investment-grade company."

The deal is expected to be accretive to the company's earnings, it said. Financial terms weren't disclosed.

"We evaluated several opportunities for these turbines, and we believe that partnering with an investment-grade counterparty in the United States best aligned with NFE's priorities," Chief Executive Officer Wes Edens said.

The company also said its FLNG 1 liquefier is on track to return to service in the fourth quarter.

Shares were up 1.6%, to $3.85, in after-hours trading.

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