NFE’s San Juan emergency power is supporting Puerto Rico's energy grid
ENERGY FILLED STORY
Powering San Juan with positive energy
We developed a 200MW power installation in San Juan in response to FEMA’s request for emergency power to support Puerto Rico's energy grid. Our San Juan power site is located next to our existing San Juan LNG terminal, just seven miles from our Palo Seco power installation. The facility generates 200MW of power from ten 25MW mobile units while sourcing an additional 19 TBTU of essential liquefied natural gas through our San Juan LNG terminal.
Providing critial access to power
Puerto Rico has historically suffered from critical power shortages caused by aging infrastructure and hurricane damage. Constant damage to the island has led to an unstable power grid and frequent power outages. During the island's warmest summer months and when hurricanes are most prevelant, these power outages are not only life-threatening but harmful to Puerto Rico’s economy. Each load shedding event is estimated to cost Puerto Rico $14 million with total losses that could approximate $700 million per year given the current state of the system(1).
Helping our neighbors
That's why we've stepped in.
To help stabilize the island's grid ahead of hurricane season, The Federal Emergency Management Agency (FEMA) tasked the Army Corp with providing up to 700MW of emergency power. We swiftly rose to the challenge and installed 200MW of emergency power at San Juan, just feet away from our San Juan terminal. The San Juan power installation is helping stabilize Puerto Rico's grid and provide cleaner and more reliable power for the island.
We also installed another 150MW of emergency power at Palo Seco, adjacent to our San Juan terminal and San Juan power installation site. The facility consists of dual-fuel generators that are supplied with natural gas from our San Juan terminal via trucks.
We are proud to power Puerto Rico with positive energy and play our part in providing critical access to energy to the communities that need it most!
1. LUMA Resource Accuracy Report
Cautionary Language Regarding Forward-Looking Statements
This communication contains forward-looking statements. All statements contained in this communication other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. You can identify these forward-looking statements by the use of forward-looking words such as “expects,” “may,” “will,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of these terms or other comparable words. Forward looking statements include but are not limited to: supply of additional 200MW of emergency power at San Juan with natural gas from our terminal; expectations that installation will be fully operational in July 2023; and statements that the additional capacity will further enhance the island’s power infrastructure and help ensure power supply.
These forward-looking statements are necessarily estimates based upon current information and involve a number of risks, uncertainties and other factors, many of which are outside of the Company’s control. Actual results or events may differ materially from the results anticipated in these forward-looking statements. Specific factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to: unknown and unforeseen risks related to the construction or commissioning schedule of the facilities, including incompatibility of systems, delays and schedule changes, regulatory and legal challenges; the receipt of permits, approvals and authorizations from governmental and regulatory agencies on a timely basis or at all; breach or failure by the parties to comply with the covenants and obligations under the agreements; nonpayment or nonperformance of obligations by the parties; adverse regional, national, or international economic conditions, adverse capital market conditions and adverse political developments; and the impact of public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets. These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of the Company’s forward-looking statements. Other known or unpredictable factors could also have material adverse effects on future results.
Any forward-looking statement speaks only as of the date on which it is made, and we undertake no duty to update or revise these forward-looking statements, even though our situation may change in the future. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in New Fortress Energy Inc.’s annual and quarterly reports filed with the Securities and Exchange Commission, which could cause its actual results to differ materially from those contained in any forward-looking statement.
