Global energy infrastructure company New Fortress Energy Inc. announced the closing of its $856 million aggregate principal amount of a senior secured term loan credit facility due in 2028, according to an Oct. 30 release.
Together with cash on hand, the New York-based company will use the net proceeds to invest in projects and repay its existing bridge facility, the company said in a release.
The term loan will bear interest at secured overnight financing rate + 5% per annum and will include a prepayment option, the release added.
The release did not give details on projects.
New Fortress Energy owns and operates natural gas and liquefied natural gas infrastructure and an integrated fleet of ships.
Recommended Reading
Equinor, Ørsted/Eversource Land New York Offshore Wind Awards
2024-02-29 - RWE Renewables and National Grid’s Community Offshore Wind 2 project was waitlisted and may be considered for award and contract negotiations later, NYSERDA says.
Energy Transition in Motion (Week of April 12, 2024)
2024-04-12 - Here is a look at some of this week’s renewable energy news, including a renewable energy milestone for the U.S.
CERAWeek: NextEra CEO: Growing Power Demand Opportunity for Renewables
2024-03-19 - Natural gas still has a role to play, according to NextEra Energy CEO John Ketchum.
First US Utility-scale Offshore Wind Farm Starts Operations
2024-03-14 - The 12-turbine, 130-megawatt South Fork Wind project is a joint venture between Denmark's Orsted and New England-based electric utility Eversource.
Energy Transition in Motion (Week of May 17, 2024)
2024-05-17 - Here is a look at some of this week’s renewable energy news, including more moves by the U.S. to strengthen and protect the U.S. solar panel manufacturing sector from China.