Investing.com – New Fortress Energy (NASDAQ:) shares rose 14% today, marking the biggest intraday rise since October, after reports that a consortium including the company has been selected to build a new gas-fired power plant in 2018. Puerto Rico.
Authorities have selected a consortium including Tropigas de Puerto Rico and Cratos Project Services to build the 478-megawatt facility, the San Juan Daily Star reported.
This development is a big step for New Fortress Energy, as it expands its presence in Puerto Rico's energy infrastructure and potentially enhances its future revenue streams.
While the company has not issued an official statement regarding the selection of the consortium, the market response underscores investors' confidence in New Fortress Energy's growth prospects.
The stock's movement reflects growing anticipation for the company's role in meeting Puerto Rico's energy needs through the new plant.
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