New Fortress Energy (NFE) was excluded from the bidding process for an 800-megawatt temporary power generation project by the Puerto Rican government, Bloomberg reported late Tuesday.
New Fortress has sent a letter to the office of Puerto Rico Governor Jenniffer Gonzalez-Colon, requesting to be reconsidered for the contract, arguing "it would be the cheapest power supplier and could provide clean fuel and a fast start-up time," the news report said.
During the company's Q1 earnings call held last week, CEO Wes Eden told analysts that the conditions for the Puerto Rican contract were "stringent." However, he "did not mention the rejected auction bid on the call," the report said.
The liquefied natural gas and logistics company confirmed to Bloomberg that it sent a letter to the governor's office but "declined to comment further."
New Fortress and office of the Puerto Rico Governor didn't immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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