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Amancio Ortega acquires 5% of the renewable subsidiary of Enagás

2022-07-27T18:09:39.666Z


Pontegadea, the investment firm of the founder and main shareholder of Inditex, consolidates its commitment to clean energy and focuses on hydrogen


Amancio Ortega becomes a shareholder of the Enagás Renovable subsidiary.

Pontegadea, the investment arm of the founder and largest shareholder of Inditex, thus joins Hy24, the

joint venture

of Ardian and FiveT Hydrogen, which acquired 30% of the green subsidiary of the manager of the Spanish gas system, very focused on the green hydrogen.

The amount of the operation is around 3.5 million euros.

The transaction, announced this Wednesday by Enagás in a press release, "reinforces compliance with the objective of giving entry to new reference investors" in its renewable energy subsidiary.

After these two operations, 65% of the capital of Enagás Renovables remains in the hands of its parent company, 30% belongs to Hy24 and the remaining 5% to Pontegadea.

The CEO of Enagás, Arturo Gonzalo, highlighted "the importance of a benchmark investment group such as Pontegadea being our partner in Enagás Renovable, at a crucial time for the development of renewable gases in our country, in line with the Hydrogen and Biogas Roadmap of the Government of Spain and with the objectives of the European strategy REPowerEU”.

For his part, Roberto Cibeira, CEO of Pontegadea, pointed out that “the entry into the capital of Enagás Renovable consolidates Pontegadea's commitment to the renewable energy sector, in line with other investments recently made by the group.

This operation also allows us to support innovation in this type of energy, contributing to the development of technology for obtaining hydrogen and biogas in Spain with reference partners such as Enagás and Hy24″.

Enagás earns 164 million in the first half of the year

The manager of the Spanish gas system and parent company of Enagás Renovable —Enagás— posted a net profit of 215 million euros in the first half of the year, according to the results presented this Wednesday.

It is 1% more than in the same period of the previous year and is in line, he says, with the objectives for the year as a whole set 15 days ago in its new Strategic Plan (2022-2030), whose priority is to ensure supply of gas in Spain and Europe.

For the year as a whole, the company led by Arturo Gonzalo forecasts profits of between 380 and 390 million, including extraordinary capital gains such as the partial sale of its green subsidiary.

Source: elparis

All business articles on 2022-07-27

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