Investing.com — Shares of New Fortress Power (NASDAQ:) jumped 14% at present, marking probably the most important intraday rise since October, following reviews {that a} consortium involving the corporate had been chosen to construct a brand new gas-fired energy plant in Puerto Rico.
The San Juan Each day Star reported that officers selected a consortium together with Tropigas de Puerto Rico and Cratos Undertaking Companies to construct the 478-megawatt facility.
This growth represents a major milestone for New Fortress Power, increasing its footprint in Puerto Rico’s power infrastructure and probably strengthening its future income streams.
Though the corporate has not launched an official assertion relating to the consortium choice, the market response highlights investor confidence in New Fortress Power’s development prospects.
The inventory’s transfer displays elevated anticipation of the corporate’s position in assembly Puerto Rico’s power wants with the brand new plant.
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