New Fortress Energy has agreed to lease 10 mobile power turbines, with capacity of up to 300 megawatts, to an unnamed U.S. investment-grade company. The initial lease term is five years. NFE expects the deal to add to earnings and improve liquidity, while also providing a business update on the planned return of its FLNG 1 liquefier.
- Delivery schedule: The turbines are expected to arrive in stages starting in the fourth quarter of 2026, with deliveries completed in the first quarter of 2027.
- Expected financial effect: NFE says the lease is expected to be accretive to earnings and enhance its liquidity profile. CEO Wes Edens described the arrangement as a source of significant cash flows and said it would put the turbines to work faster than alternative uses.
- Deal economics: NFE did not provide the lease payments or a quantified estimate of the transaction’s earnings or cash-flow contribution.
- FLNG 1 status: The company says its FLNG 1 liquefier remains on track to return to service in the fourth quarter of 2026, based on recent discussions with the turbine manufacturer. The timing depends on resolving the unit’s mechanical issue.
The turbine lease gives NFE a five-year use for the equipment with a U.S. investment-grade customer, although the financial contribution has not been quantified. Both the turbine delivery schedule and the FLNG 1 restart remain subject to execution and mechanical risks.