Excelerate Energy to Acquire NFE’s Jamaica Business for $1.055 Billion

Excelerate Energy, Inc. announced that its subsidiary, Excelerate Energy Limited Partnership, has entered into an equity and asset purchase agreement to acquire New Fortress Energy’s business operations in Jamaica for approximately $1.055 billion in cash, subject to customary closing adjustments. The agreement was signed on March 26, 2025.

The acquisition includes liquefied natural gas (LNG) infrastructure and operations currently held by Atlantic Energy Holdings LLC and New Fortress Energy Inc. Closing is anticipated as early as the second quarter of 2025, pending regulatory consents, debt facility releases, audited financials, and other standard closing conditions.

To finance the acquisition, Excelerate secured an $850 million 364-day senior secured bridge term loan facility, outlined in a commitment letter signed with a group of lenders on the same day. The loan facility is designed to cover the transaction and associated costs, and is subject to customary funding conditions.

Excelerate also disclosed that a press release and an investor presentation were made available on March 27, 2025, to provide additional context about the transaction. Both are attached as exhibits to the SEC filing.

The company emphasized that the acquisition aligns with its growth strategy in LNG infrastructure and expands its presence in the Caribbean region. Forward-looking statements in the announcement noted risks including financing, integration challenges, and fluctuations in LNG markets.

Excelerate cautioned that these forward-looking statements reflect current expectations as of March 27, 2025, and are subject to change based on various risk factors disclosed in its prior SEC filings.