U.S. energy infrastructure player New Fortress Energy (NFE) has secured a five-year lease agreement to deploy ten mobile turbines, delivering up to 300 MW, to a U.S. investment-grade partner, a move the company’s Chief Executive Officer (CEO) believes will strengthen the firm's liquidity while capitalizing on surging domestic power demand.
New Fortress Energy has agreed to lease ten mobile turbines that can generate up to 300 MW of power to an undisclosed U.S.-based investment-grade company for an initial period of five years.
The turbines are expected to be delivered in stages beginning in the fourth quarter of 2026 and finalized in the first quarter of 2027. This transaction is expected to be accretive to NFE’s earnings and enhance its liquidity profile.
Wes Edens, Chief Executive Officer of NFE, commented: “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.
“It provides the Company 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.”
According to New Fortress Energy, its Fast LNG (FLNG) unit, also known as FLNG 1, remains on track to return to service in the fourth quarter of 2026 based on its most recent discussions with the manufacturer of the turbine.
The FLNG 1 unit went offline because of a mechanical issue with the facility's gas turbine offshore Altamira. This interrupted operations and reduced exports at Mexico’s facility until repairs are completed. The Fast LNG is made up of three repurposed jack-up rigs off the coast of Altamira.
NFE secured the go-ahead from the U.S. Department of Energy (DOE) to export LNG to non-free trade agreement (non-FTA) countries for a term of five years and obtained a loan to build its second installation, FLNG 2, with construction works scheduled to be over in the first half of 2026.