New Fortress Subsidiary Wins Puerto Rico Power Plants Bid (1)

A subsidiary of New Fortress Energy Inc. won a deal to operate and manage Puerto Rico’s ailing power generators, after years of negotiations, delays and speculation.

New Fortress said in a press release that Genera PR LLC was selected for a 10-year operation and maintenance agreement to run the plants. The company will join AES Puerto Rico Inc. and and EcoElectrica Holdings Ltd. as the island’s private power generators.

Under the contract, Genera will manage more than a dozen fossil fuel-burning power plants, some of them defunct, that can generate a combined 3,600 megawatts. New Fortress said Genera will manage …