New Fortress Energy Shares Surge Following Power Plant News

Shares of New Fortress Energy (NASDAQ:NFE) surged 14% today, marking its most significant intraday rise since October. This follows reports that a consortium, including the company, has been selected to build a new gas-fired power plant in Puerto Rico.

According to the San Juan Daily Star, authorities have chosen a consortium comprised of Tropigas de Puerto Rico and Cratos Project Services to construct the 478-megawatt facility.

This development is a substantial step for New Fortress Energy, as it expands its footprint in Puerto Rico's energy infrastructure and potentially bolsters future revenue streams.

While the company has not issued a formal statement about the consortium's selection, the market's response underscores investor confidence in New Fortress Energy's growth prospects. The stock's movement reflects heightened anticipation of the company's role in addressing Puerto Rico's energy needs with the new plant.

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