New Fortress Energy (NFE) was disqualified from an auction held by the Puerto Rican government to secure temporary power generation, Bloomberg’s Ruth Liao and Jim Wyss report. The company asked to be reconsidered for the 800-megawatt contract, arguing it would be the cheapest power supplier and could provide clean fuel and a fast start-up time, according to a letter the company sent to the Puerto Rico governor’s office. Puerto Rico’s government narrowed the field of seven bidders to two firms, with negotiations ongoing, but did not provide a timeline for when a winner would be announced. Shares of New Fortress Energy are down nearly 9% in premarket trading.
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