New Fortress Energy Inc. · NASDAQ:NFE
New Fortress Energy — Corporate Update (March 2024)
18 slides from New Fortress Energy's corporate update, March 2024
Slide 1: Investor Update
March 2024 Investor Update g NewFortress energy
Slide 2: Puerto Rico
Puerto Rico 2
Slide 3: Last year, we installed 425 MW of fast power in Puerto Rico
Puerto Rico Last year, we installed 425 MW of fast power in Puerto Rico 2 plants built in less than 180 days These plants are critical to Puerto Rico’s electric grid Palo Seco Fast Power 175 MW San Juan Fast Power 250MW Highly reliable: available 98% of the time Cornerstones of Puerto Rico’s energy
Slide 4: We have closed two transactions that further strengthen Puerto Rico's grid
Puerto Rico We have closed two transactions that further strengthen Puerto Rico’s grid & enhance our earnings profile Transaction 1 Transaction 2 NFE sold two NFE awarded operating contract to supply power plants up to 80 TBtu of to PREPA, totaling natural gas across 425 MW of the island installed c
Slide 5: Transaction 1: Sale of two operating power plants
Puerto Rico Transaction 1: Sale of two operating power plants NFE sold two operating power plants Concurrent with the sale, to PREPA for $373mm(i)(1) existing 2-year power leases were ended Palo Seco San Juan Taking place approximately halfway through the term of the contract In dialogue with Weston
Slide 6: Transaction 2: Island-wide 80 TBtu gas supply contract
Puerto Rico Transaction 2: Island-wide 80 TBtu gas supply contract(2) NFE entered into an 80 TBtu Contract terms: island-wide gas supply contract Serves PREPA’s newly acquired Fixed discount operating power plants to diesel price Enables additional power plants to switch to natural gas from distilla
Slide 7: Potential to save $1bn+ in fuel costs & avoid 7.3mm tonnes in CO2
Puerto Rico Potential to save $1bn+ in fuel costs & avoid 7.3mm tonnes in CO2 emissions for Puerto Ricans Helps eliminate distillate Upgrades generation to Complements renewables fuels (i.e. diesel & bunker) modern standards, increasing & allows max. power without reliability & reducing costs sacrif
Slide 8: 3,700 MW fuel switch opportunity in Puerto Rico
Puerto Rico 3,700 MW fuel switch opportunity in Puerto Rico Location MW output Gas now San Juan / Palo Seco Fast Power 425 MW San Juan 5 & 6 325 MW Island supplemental power 150 MW Palo Seco MegaGens 80 MW Diesel / Aguirre 400 MW gas ready Mayaguez 200 MW Diesel / HFO Aguirre 900 MW conversion Camba
Slide 9: Brazil
Brazil 9
Slide 10: We have completed construction & commissioning of our Brazil terminals
Brazil We have completed construction & commissioning of our Brazil terminals Barcarena: The Amazon’s sole entry point for natural gas Contract with Norsk Hydro Barcarena COD: Q1 2024(4) COD: March 2024, 30 TBtu, 15-yr(4) 630 MW Barcarena Power Plant COD: July 2025, 25-yr PPA, 16 TBtu(4) 1.6 GW New
Slide 11: We have closed the acquisition of the 1.6GW PPA announced in December
Brazil We have closed the acquisition of the 1.6GW PPA announced in December Transaction highlights In December, announced acquisition of ~1.6 GW PPA in Brazil from Ceiba Energy, a portfolio company of Denham Capital We have now officially closed the transaction NFE owns 100% of the project Project
Slide 12: PortoCem capacity PPA: fully contracted, 15-year PPA
Brazil PortoCem capacity PPA: fully contracted, 15-year PPA We have received all necessary regulatory approvals and expect COD(4) by July 2026 PPA provides NFE high-quality Highly attractive illustrative economics(5) contracted cash flows Key Metrics (2026E) $mm / year 15-year term Fixed capacity pa
Slide 13: ~$500mm of contracted Adj. EBITDA with near-term path to $1bn
Brazil ~$500mm of contracted Adj. EBITDA(6) with near-term path to $1bn Current contracts Illustrative Run Rate Adj. EBITDA Current contracts at Barcarena & 1 Santa Catarina “TGS” Terminals +$100mm Norsk Hydro + 2.2 GW of power 2024 auction ~$400mm NFE targeting 3.2 GW for new & +$1bn 2 existing pow
Slide 14: Similar opportunities at our Santa Catarina (TGS) Terminal in 2024
Brazil We are looking forward to similar opportunities at our Santa Catarina (TGS) Terminal in 2024 2024 summer auctions TGS is uniquely positioned to win significant capacity in these auctions TAG pipeline Capacity power auctions 260 TBtu/yr announced March 8th with expected NTS pipeline 8 GW+ for
Slide 15: Our business in Brazil is rapidly growing with several near-term catalysts
Brazil Our business in Brazil is rapidly growing with several near-term catalysts Near-term growth priorities Key objectives Current 2024 Organic contracts auction growth Construct new reserve capacity 1. power and provide gas to ~$500mm of Targeting >3 GW of Upsize existing customers with no firm s
Slide 16: Disclaimers
Disclaimers IN GENERAL. This disclaimer applies to this document and the verbal or written comments of any person presenting it. This document, taken together with any such verbal or written comments, is referred to herein as the “Presentation.” FORWARD-LOOKING STATEMENTS. All statements contained i
Slide 17: Disclaimers
Disclaimers PAST PERFORMANCE. Our past performance is not a reliable indicator or indicative of future results and should not be relied upon for any reason. There can be no assurance that the future performance of the Company, or any project, investment or asset of the Company, will be profitable or
Slide 18: Endnotes
Endnotes 1. PREPA has the option to purchase three additional turbines which would bring the purchase price to $373 million. 2. The contract is for the Company to provide up to 80 TBtus on an annual basis. The actual amount of power delivered could be materially less than TBtus. 3. The contract is f