US-based Excelerate Energy has completed its acquisition of New Fortress Energy's operations in Jamaica.
The move has been hailed as a major step in the strategic directions of both companies and a boost to Jamaica's energy sector.
The deal sees Excelerate taking over three major assets - the Montego Bay and Old Harbour LNG terminals, as well as the Clarendon combined heat and power plant.
Excelerate Energy's president and CEO Steven Kobos said the acquisition fits squarely into the company's global expansion plans and strengthens its position in the Caribbean market.
He described the deal as a significant step forward that will deliver stable, long-term returns while supporting Jamaica's push for cleaner, more cost-effective energy solutions.
Prime Minister Andrew Holness also welcomed Excelerate's entry into the market. He credited New Fortress Energy for its groundbreaking work in bringing LNG to the island since 2016.
Excelerate said it is confident the Jamaica platform will deliver long-term value while meeting the country's energy needs.
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