New fortress energy completes previously announced acquisition and transfer of 1.6 gw, 15-year contracted power asset in brazil

New york--(business wire)--new fortress energy inc. (nasdaq: nfe) (the “company”) has completed the previously announced acquisition and transfer of a 1.6 gw capacity reserve contract (“portocem ppa” or “ppa”) from ceiba energy, a portfolio company of denham capital, in exchange for newly issued nfe redeemable series a convertible preferred stock and the assumption of certain liabilities from a subsidiary of ceiba energy. construction activities for the 1.6 gw power plant have commenced at nfe'.
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