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NFE And Ebrasil To Sell Porto De Sergipe Power Plant For Apprx. $1.29 Bln Cash

New Fortress Energy Inc. (NFE) on Wednesday said it has, along with its partner Ebrasil Energia Ltda. agreed to sell Porto de Sergipe Power Plant to Brazilian power company Eneva S.A. for R$6.1 billion or $1.29 billion in cash.

As part of the deal, Eneva has agreed to acquire all shares of Centrais Elétricas de Sergipe Participações S.A. (CELSEPAR), who owns the 1,593 MW Sergipe Power Plant, and Centrais Elétricas Barra dos Coqueiros S.A., which owns 1.7 GW of expansion rights adjacent to the Sergipe Power Plant, for a total implied enterprise value of about R$10.2 billion, including debt.

"NFE will continue to operate the Golar Nanook, a Floating Storage and Regasification Unit that remains chartered to CELSE for the next 20 years," said Wes Edens, Chairman and CEO of New Fortress Energy.

The transaction, which is projected to bring in about $550 million proceeds to New Fortress Energy, is expected to close in the second half of 2022.

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