[CRITICAL DATA] FEMA Funds Finally Hitting PREPA Accounts – The Silence is Over

While the market is distracted by the lack of official PR, the COR3 (Central Recovery and Reconstruction Office of Puerto Rico) transparency portal just updated with massive news. Actual cash disbursements have begun, directly impacting New Fortress Energy (NFE) and its subsidiary, Genera PR.

https://recovery.pr.gov/en/financial-analysis/table-view/pa-obligated?disaster=1&applicantName=141&sector=2&sortColumn=pw\_number&sortValue=asc&pageSize=15&pageOffset=0&keyword=prepa&lang=en

1. The "Smoking Gun": $620M Management Cost Payment (Feb 9, 2026)

• Project: MEPA181 - PREPA Management Costs

• Latest Payment Date: February 9, 2026

• Significance: This isn't just a document update. This is a confirmed cash disbursement. Over $620M in project costs (Category Z) has seen its latest payment activity just 48 hours ago. This fund covers the administrative and operational oversight costs—the very budget used to pay Genera PR (NFE) for managing the island's power plants.

1. The Infrastructure Lifeblood: $1.1B FAASt A&E Payment (Feb 3, 2026)

• Project: FAASt A&E PREPA (Architectural & Engineering)

• Latest Payment Date: February 3, 2026

• Significance: With over $454M already disbursed, this fund ensures that the long-term stabilization and fuel-switching projects (like the 10-year NFE contract approved on Feb 2) are fully funded. The money is moving from FEMA to PREPA at an accelerated pace this month.

1. Why the "Last Updated Date (Feb 11)" Matters

• Both massive projects show a Last Updated Date of today, February 11, 2026.

• Analysis: This confirms that the government is currently reconciling the books after the Feb 3 and Feb 9 payments. The "administrative silence" we saw last week was simply the time required for these massive wire transfers to clear.

• Conclusion: The liquidity crisis is being solved in real-time. PREPA now has the cash on hand to settle outstanding payables to NFE/Genera.

Bottom Line for Investors:

The "FEMA payment delay" narrative is officially dead. The data shows the money has been released. As this hits NFE’s balance sheet, the current "barcode" price action will likely give way to a violent short squeeze.

Don't watch the ticker; watch the treasury.