New Fortress Energy Inc. (NasdaqGS:NFE) entered into a definitive agreement to acquire 1.6 GW gas-fired power plant in Ceará, Brazil from Ceiba Energy, LLC on December 27, 2023. The consideration is in exchange for newly issued NFE redeemable Series A Convertible Preferred Stock and the assumption of certain liabilities from a subsidiary of Ceiba Energy. The transaction is subject to customary terms and conditions, including regulatory approval for the transfer of the PortoCem PPA to NFE terminal sites and expected to close in March 2024. BTG Pactual US Capital, LLC acted as financial advisor to Ceiba Energy, LLC. As of February 29, 2024, NFE has applied to transfer the New Power Project PPA to a permitted site adjacent to the Barcarena terminal and expects close the acquisition in the first quarter of 2024, subject to regulatory approval.

New Fortress Energy Inc. (NasdaqGS:NFE) completed the acquisition of 1.6 GW gas-fired power plant in Ceará, Brazil from Ceiba Energy, LLC on March 20, 2024.