New Fortress Energy Trades Puerto Rico Bonuses For Cash Up Front

A New Fortress Energy subsidiary that manages power plants in Puerto Rico is foregoing the potential of almost $900 million in performance bonuses over the next decade in exchange for a one-time payment as the company scrambles for cash.

Genera, which has managed generating plants on the island since 2023, said Monday it would receive $110 million in exchange for walking away from future incentive payments of up to $100 million a year.

New Fortress Energy, run by billionaire investor Wes Edens, has been struggling for cash following delays at a natural gas export terminal it developed off Mexico’s ...