New Fortress extends forbearance agreement

During the forbearance period, New Fortress Energy expects to continue to advance the completion of its restructuring with the company’s stakeholders. (Facebook via New Fortress Energy)

By THE STAR STAFF

New Fortress Energy (NFE), the parent company of Genera PR, the operator of the Puerto Rico Electric Power Authority’s power plants, has extended its forbearance agreement with representatives of the holders of its new senior secured notes due 2029 from Monday of this week (Dec. 15) to Jan. 9, 2026.

During the forbearance period, NFE expects to continue to advance the completion of its restructuring with the company’s stakeholders, the firm said in a statement this week. The company reportedly has an estimated debt of about $9 billion.

NFE is a global energy infrastructure company founded to address energy poverty and accelerate the world’s transition to reliable, affordable and clean energy.

Besides operating PREPA’s legacy power plants, NFE has a liquefied natural gas (LNG) supply agreement with the Puerto Rico government that is slated to last at least seven years at an estimated cost of about $4 billion.

The company owns and operates natural gas and LNG infrastructure and an integrated fleet of ships and logistics assets to deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations reinforce global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world, according to the NFE statement.