New Fortress' $20 Billion Puerto Rico Deal Halted by Board
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Puerto Rico's finance watchdog is refusing to OK a $20 billion natural gas supply deal that it said would give New Fortress Energy Inc. a near monopoly over the island's energy future.
The Financial Oversight and Management Board has 'profound concerns' about a proposed 15-year contract between Genera PR — a New Fortress subsidiary that operates the territory's power plants — and the company unit that delivers liquefied gas, according to a letter to Puerto Rico's energy czar, Josue Colon.
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