Wes Edens, CEO of New Fortress Energy Signs a 15-Year Term Memorandum of Understanding with Hydro’s Subsidiary

 

New Fortress Energy’s CEO, Wes Edens, is reaching his goals of creating an existence in the Brazilian market and proudly announced a partnership with Hydro’s subsidiary. On April 19th, LNG Industry reported New Fortress signed a Memorandum of Understanding (MoU) agreement with Norsk Hydro to supply natural gas to its refinery. This is a long-term contract extending to 15 years and will help Hydro’s Alunorte Alumina Refinery transition to cleaner and cost-efficient energy.

Alunorte Alumina is converting the generating process from fossil fuel to natural gas supply. Wes Edens and Hydro expect to reduce emissions of carbon dioxide and other greenhouse gases by 20 percent. Fortress Energy agreed to deliver a specified amount of natural gas to the refinery from their Barcarena LNG terminal in Para, Brazil, in 2022. Both parties (New Fortress and Hydro) are still working together to complete the partnership after review and mutual agreement.

Wes Edens had his eyes on the Brazilian market years prior to the construction of the Barcarena LNG terminal in Brazil. Recently, New Fortress acquired Hygo Energy Transition Ltd in Brazil to provide greener and affordable commercial energy supply. It is just the beginning of Wes expanding further in the Brazilian markets and other countries in North America, Caribbean, and Central America.

New Fortress Energy continues to receive remarkable growth through its LNG (liquefied natural gas) terminals, logistics, and power generation plants. Wes Edens founded the energy company in 2014 with the mission of reducing emissions from carbon dioxide and other greenhouse gases. He is Principal and Founder of Fortress Investment Group and a philanthropist in the countries he conducts business, including the United States, Brazil, and Jamaica, to name a few. Wes earned his bachelor’s of science degree from Oregon State University in Finance and has nearly 23 years of experience running Fortress Investment Group.

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