New Fortress Energy Cuts Debt by 91% Without Impacting Puerto Rico Operations

New Fortress Energy has finalized its financial reorganization plan, which will not impact operations in Puerto Rico. The company's existing commitments to supply natural gas and infrastructure supporting the island's electric power system remain intact.

The restructuring process was approved by the High Court of Justice of England and Wales on June 18 after receiving support from 99% of voting creditors. A U.S. court subsequently recognized the plan on July 14, completing principal judicial approvals required.

New Fortress Energy expects to reduce its corporate debt from approximately $5.7 billion to about $527.5 million, representing a reduction of roughly 91%. The company's leadership stated that the restructuring was designed to proceed without disrupting operations and does not involve the liquidation of assets, cessation of operations or suspension of services.

The company is moving towards completing the restructuring process, which it expects to finalize during the third quarter of 2026. New Fortress Energy said its improved financial position could support initiatives to expand the availability of natural gas in Puerto Rico and meet long-term commitments.