Fortress Transportation and Infrastructure Investors seals debt for gas-fired power project

Fortress Transportation and Infrastructure Investors LLC (FTAI) has made a final investment decision to move forward with its 485 MW power plant project at the Long Ridge Energy Terminal. 

On February 15, 2019, an affiliate of FTAI executed long-term, fixed-price power sale agreements with investment grade counterparties. 

In addition, the project closed US$588 million of non-recourse financing and executed an EPC agreement with Kiewit Power Constructors Co. and a power generation equipment purchase agreement with the General Electric Company.