Glenfarne Group announces creation of Glenfarne Energy Transition
Glenfarne Group, a developer, owner, operator and industrial manager of energy and infrastructure assets across the investment-grade Americas, Asia, and Europe, today publicly announces Glenfarne Energy Transition, LLC (GET), a wholly owned subsidiary of Glenfarne focused on high-growth emerging markets and addressing the “here and now” global energy transition. GET will operate through three core businesses: Global LNG Solutions, Renewables, and Grid Stability.
GET believes that the world needs to adopt renewables at an accelerating rate to fight climate change and achieve energy security, but economies globally lack sufficient grid stability to maximize the power of renewables. Responsibly sourced and environmentally sensible U.S. liquefied natural gas (“LNG”) is one of the most financially and logistically flexible fuels to help fill this need while countries bring modern power grids and other renewable infrastructure online.
“We are proud to introduce Glenfarne Energy Transition during such a critical moment in the global decarbonization movement and the various efforts to achieve energy security. Glenfarne Energy Transition will further our commitment to empowering local communities globally and addressing the here and now energy transition through a carefully constructed, diversified asset portfolio,” said Brendan Duval, CEO and Founder of Glenfarne Group and Glenfarne Energy Transition. “Grid stability is an enabler of deep penetration of renewables, and we’ll continue to invest in and develop infrastructure assets that provide sustainable and environmentally and economically sensible solutions to high-growth emerging markets globally.”
GET’s existing assets include 12 grid stability power plants, 27 renewable assets and two LNG export projects – Texas LNG & Magnolia LNG – approved for 12.8 million tons per annum (“MTPA”) of export capacity, 5000 miles of gas pipelines, and 13 gas processing plants. With an experienced management team leading nearly 600 team members, a meaningful track record of success with proven project development capabilities, and a global LNG commercial footprint, Glenfarne Energy Transition is quickly expanding into several high-growth emerging markets in Asia and Latin America.
“Glenfarne Energy Transition is already a leader in accelerating the global energy transition. We look forward to making final investment decisions for Texas LNG later this year and Magnolia LNG in 2023, and together with our LNG import terminal developments and projected renewables and grid stability expansion, our business model is even more attractive and offers multiple growth vectors,” Duval added.
