07:18 AM EDT, 03/27/2025 (MT Newswires) -- New Fortress Energy ( NFE ) said Thursday it completed a transaction with Excelerate Energy ( EE ) to sell its Jamaican assets for $1.06 billion.

The company said the deal includes New Fortress Energy's ( NFE ) LNG import terminal in Montego Bay, offshore floating storage and regasification terminal in Old Harbour, and a Combined Heat and Power Plant in Clarendon.

The proceeds from the deal, expected to close in Q2, will be used to reduce its corporate debt and support general corporate purposes, it added.

Excelerate Energy ( EE ) said the transaction is expected to be immediately accretive to earnings per share

Shares of New Fortress Energy ( NFE ) rose more than 8% in recent premarket activity.