First Citizens Bank Arranges $200MM in Financing for New Fortress Energy

First Citizens Bank’s capital equipment finance group, part of the CIT division, served as lead arranger on $200 million in financing for New Fortress Energy.

Headquartered in New York, New Fortress Energy is an energy infrastructure company founded to help address energy poverty and accelerate the world’s transition to reliable, affordable and clean energy. The loan from First Citizens will support New Fortress Energy’s grid stabilization project in Puerto Rico.

“We are focused on providing important support for energy availability, grid stability and cleaner power in Puerto Rico,” Wes Edens, chairman and CEO of New Fortress Energy, said. “We are pleased to work with the capital equipment finance team, who provided expertise and agility in arranging financing for these generators.”

“New Fortress Energy is continuing to grow their reputation for expertise in clean, reliable and affordable energy facilities,” Kevin Ronan, senior vice president and group head for CIT Capital Equipment Finance, said. “I’d like to thank both the New Fortress Energy and capital equipment deal teams for their diligent efforts in bringing this financing to a successful closing.”

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