New Fortress Energy has recently announced that it will form a partnership with Sri Lanka. According to the energy company owned by founder Wes Edens, New Fortress Energy will build and maintain the nation’s first ever terminal of liquefied natural gas. With this new agreement, New Fortress Energy will provide the foundation of building a new offshore LNG. The new location will serve as a facility for storing and regasification of energy. This new project will also be completed on the coast of Colombo and be the main point of supplying natural gas to plants at the Kerawalapitiya Power Complex.
Shortly after the announcement for the project, New Fortress Energy revealed that the new terminal will supply natural gas to another notable power plant in Sri Lanka. The company is set to provide energy to the Yugadanavi Power Plant which is one of the most powerful facilities in the country. Wes Edens of New Fortress Energy said that negotiations are currently being made to acquire the government’s ownership stake in the company that runs the power plant.
Wes Edens made a recent statement about the new project in Sri Lanka. He said that investing in this new project will help advance the transition of providing clean energy sources and support for the economy’s future development. Edens also said that this project is the first in many new projects pertaining to Sri Lanka’s infrastructure.
New Fortress Energy and the Sri Lankan government have agreed to obtain all of the necessary permits and authorizations for the plant’s new construction. The project is expected to be completed in 2022 and begin operating during the second half of that year. As of today, the initial stages of the project are being organized but the commercial agreements associated with the project are in the final stages of being completed.
Learn more about Wes: https://earn.com/wesedens/