Name change marks a new phase for New Fortress Energy’s Brazilian assets.
The transition of New Fortress Energy (NFE)‘s Brazilian assets to a new operational entity, now named Arxen, has been officially completed. This move follows a financial restructuring process for the group and signals an independent chapter for clean energy operations in Brazil.
Arxen‘s leadership remains under Leandro Cunha, who continues as CEO. The retention of the executive team, including Jeremy Dawson (COO) and Humberto Quintas (General Counsel and Compliance Officer), reinforces continuity and established expertise in the business.
The company emphasizes that the name change occurred at higher corporate levels, without impacting contracts, licenses, assets, operations, or employees in the country.
The new corporate structure has brought with it a capital injection. Global institutional investors with proven infrastructure experience and a track record of long-term investments in Latin America have become the new shareholders of Arxen. This change aims to secure the necessary resources for the advancement of ongoing projects.
The board of directors for Arxen will be chaired by Chuck Sledge, who is familiar with NFE, and will include five independent directors, strengthening corporate governance.
Strategic Divestment and Asset Consolidation
The creation of Arxen as an independent company is part of a broader financial restructuring by New Fortress Energy, completed on September 11. As a result, creditors who participated in the plan now hold the entirety of the new company, which consolidates terminals, power plants, and other energy operations in Brazil.
This transaction also resulted in the extinguishment of approximately $5.7 billion in debt.
Among the strategic assets under Arxen‘s management are the complex in Barcarena (Pará), which includes the UTE Celba 2 power plant (624 MW) and the PortoCem plant (1.6 GW), as well as the local gas terminal. Additionally, the company manages the Terminal Gás Sul (TGS) in Santa Catarina.
The company is also focused on expansion projects, such as the Celba 3 power plant (100.9 MW) in Barcarena (PA) and UTE Lins (700 MW) in São Paulo. Both thermal plants were successful in this year’s Capacity Reserve Auction (LRCap), ensuring their future contribution to Brazil’s energy matrix.
Arxen begins its operations with a robust portfolio and a clear strategy to drive growth and sustainability in Brazil’s energy sector, consolidating itself as a key player in the market.
