Wes Edens is one of the founders of Fortress Investment Group. Additionally, Wes Edens is the CEO of New Fortress Energy, the company’s international energy investment vehicle. Now, Edens has helped make a deal with one of the newest clean-energy innovators overseas. This new venture will take place in the Philippines, where the erection of clean energy infrastructure can alter the future for the entire country’s commerce, and create a lasting environmental impact.
Importantly, the deal is currently in the inaugural stages of implementation. Clean energy investor Wes Edens and fellow executives signed what is called an MOU (Memorandum of Understanding) with the Philippine National Oil Company. It allows the companies to work together in order to find the best opportunities going forward in the oil and gas industries. This is something that will benefit both companies.
In a recent Wall Street Journal article, Wes Edens discussed his professional strategy of always rooting for the proverbial underdog. In this sense, Edens knows a good opportunity when he sees one. Signing this deal will allow the new arm of New Fortress Energy to grow and give the Philippines the infrastructure needed to be a world leader in the energy sphere. Both entities feel like they are splitting things down the middle for everyone and feel confident going forward. The deal was made in a virtual manner in October of this year.
The good thing for both parties and Wes Edens is that the deal is non-binding. which means either party can opt-out of the deal at any time. This is a deal that could very well change the face of not only Fortress Energy, but the Philippines as well. These deals can help them become a major competitor and projects for the country are already being lined up. Now it is up to the parties to carry this deal through to the finish line. For experienced entrepreneur Wes Edens, this international deal signifies the next phase of growth for New Fortress Energy.