Headquartered in
'All Puerto Ricans deserve access to clean, reliable and low-cost power,' said
Genera was selected by the P3A after a competitive process that began in
With this historic step,
'This public-private partnership marks a milestone in the island's energy history,' said the Executive Director of the P3A,
Over the next several months, Genera will work closely with the government of
Key features of Genera's proposal selected by the P3A include:
Significant cost-savings for the benefit of
Improved reliability and efficiency across the generation system with a focus on distributed power and microgrids
Retirement of antiquated power plants while ensuring there is reliable, low-cost and cleaner generation in load centers to support the transition to renewables
Commitment to local hiring and plans to recruit, train and incentivize employees
About
Cautionary Language Regarding Forward-Looking Statements
This communication contains forward-looking statements. All statements contained in this communication other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. You can identify these forward-looking statements by the use of forward-looking words such as 'expects,' 'may,' 'will,' 'predicts,' 'intends,' 'plans,' 'estimates,' 'anticipates,' or the negative version of these terms or other comparable words. Forward looking statements include but are not limited to: the expected economic and environmental benefits and principles from the transaction, including reduction of costs, improvement of the reliability of the power generation system, and environmental impact; expected operation, maintenance, decommissioning and modernization of the facilities by NFE; that this project will be a model for markets around the world; expected transformation of the electrical system, and the transition towards the integration of renewable energy sources; and smooth transfer of operations and workforce.
These forward-looking statements are necessarily estimates based upon current information and involve a number of risks, uncertainties and other factors, many of which are outside of the Company's control. Actual results or events may differ materially from the results anticipated in these forward-looking statements. Specific factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to: unknown and unforeseen risks related to the development, construction or commissioning schedule of the facilities, including failure to meet design and engineering specifications, incompatibility of systems, delays and schedule changes, high costs and expenses, and regulatory and legal challenges, among others; the receipt of permits, approvals and authorizations from governmental and regulatory agencies on a timely basis or at all; we will be unable to operationalize our plans for the projects and derive the benefits expected; common risks related to successful integration of the businesses; breach or failure by the parties to comply with the covenants and obligations under the agreements; nonpayment or nonperformance of obligations by the parties; inability to realize the anticipated benefits from the project or our partnerships; adverse regional, national, or international economic conditions, adverse capital market conditions and adverse political developments; business disruption following the transaction; and the impact of public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets.. These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of NFE's forward-looking statements. Other known or unpredictable factors could also have material adverse effects on future results.
Any forward-looking statement speaks only as of the date on which it is made, and we undertake no duty to update or revise these forward-looking statements, even though our situation may change in the future. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in
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