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Spain’s Enagas Sells 30% of Its Renewable Energy Unit to Hy24

By July 20, 2022 < 1   min read  (118 words)

July 20, 2022 |

Fuel Cells Works, Spain's Enagas Sells 30% of Its Renewable Energy Unit to Hy24

MADRID – Spanish gas grid operator Enagas (ENAG.MC) said on Wednesday it had sold a 30% stake in its renewable business Enagas Renovable to Hy24, a partnership between buyout fund Ardian and green hydrogen investor FiveT.

Enagas will make a capital gain worth about 50 million euros ($51.2 million) on the transaction, the company said in a statement.

Enagas and its new partners intend to develop green hydrogen and other decarbonisation projects, the statement said.

Earlier this month the gas grid operator said it expected to invest 4.76 billion euros by 2030 on projects to ensure energy supplies and decarbonisation.

($1 = 0.9768 euros)

Image: People work at Enagas liquefied natural gas (LNG) terminal at Zona Franca in Barcelona, Spain, March 29, 2022. REUTERS/Albert Gea

SOURCE: Reuters

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