Loan & DebtApr 7, 2026, 04:36 PM
New Fortress Energy Subsidiary Sells Turbines for $265.9M in Sale-Leaseback to Repay Debt
AI Summary
New Fortress Energy Inc. (NFE) announced that its subsidiary, NFE Power PR LLC, completed a sale-leaseback transaction for certain turbines with Macquarie Energy LLC. The sale generated $265,882,500.00 in proceeds, which were primarily used to repay existing company indebtedness. Concurrently, another NFE subsidiary, NFE Turbines LLC, entered into a 10-year Master Lease Agreement for the equipment, expected to commence on July 1, 2026. This strategic financing move aims to enhance the company's liquidity and strengthen its balance sheet by reducing outstanding debt.
Key Highlights
- NFE Power PR LLC, a subsidiary of New Fortress Energy Inc., sold certain turbines to Macquarie Energy LLC for a purchase price of $265,882,500.00.
- The net proceeds from the sale-leaseback transaction were utilized by New Fortress Energy Inc. to repay certain existing indebtedness.
- NFE Turbines LLC, another NFE subsidiary, simultaneously entered into a Master Lease Agreement with Macquarie Energy LLC to lease the equipment back for a 10-year term.
- The lease term for the turbines is expected to begin on July 1, 2026.
- New Fortress Energy Inc. provided a parent guarantee for the lessee's obligations under the lease and the seller's obligations under the purchase agreement.