New Fortress Energy Completes Energos Stake Divestiture to Apollo Funds
New Fortress Energy Inc. (NASDAQ: NASDAQ:) has successfully sold a 20% equity interest in Energos Infrastructure to Apollo-managed funds, with the proceeds intended for debt repayment and investment in new downstream projects that offer higher returns.
Energos Infrastructure, a joint venture established by NFE and Apollo Funds, specializes in LNG delivery, storage, and regasification services under long-term charters. The company’s fleet consists of 13 LNG infrastructure vessels, including 9 Floating Storage and Regasification Units (FSRUs), 2 Floating Storage Units (FSUs), and 2 LNG carriers.
New Fortress Energy will continue its collaboration with Energos by chartering six vessels to support its global operations, with the charters set to take effect once the current third-party agreements expire, extending up to 20 years.
Wes Edens, Chairman and CEO of New Fortress Energy, expressed his satisfaction with the establishment and growth of Energos as a leading LNG maritime infrastructure company. The sale to Apollo Funds aligns with NFE’s strategy to recycle capital into lucrative downstream projects and reduce debt.
New Fortress Energy was founded to address energy poverty and support the transition to sustainable energy, offering a portfolio that includes natural gas and LNG infrastructure, along with an integrated fleet of ships and logistics assets for comprehensive energy solutions worldwide.
Energos contributes significantly to the global energy landscape by providing LNG infrastructure services to facilitate transitions from oil and coal, enhance energy security and reliability, and potentially reduce costs.
The article is based on a press release statement.
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