Enagas will retain 70pc of its renewables unit
Hy24 takes stake in renewables arm of Spain’s Enagas
Clean hydrogen fund takes 30pc stake in Enagas Renovable in its second deal this month
Clean hydrogen investment fund Hy24 is to acquire a 30pc stake in the renewables arm of Spanish gas grid operator Enagas, which is investing €4bn ($4.53bn) in electrolyser capacity across 30 projects in Spain. Hy24, a joint venture between French asset manager Ardian and hydrogen investment firm FiveT Hydrogen, takes the stake as part of a capital increase which see Enagas retain 70pc of the renewables unit, Enagas Renovable. “We expect this joint venture to accelerate the realisation of large green power-to-hydrogen projects in Spain to help decarbonise both industry and transport sectors,” says Pierre-Etienne Franc, CEO of Hy24. “The quality of the Enagas Renovable’s team, the pipeline of
Also in this section
27 February 2025
Commission doubles down on plan to boost growth through investment in transition, as European oil and gas majors refocus on fossil fuels
14 February 2025
Leading European hydrogen investor commits $50m to green fuels developer amid continued uncertainty over US renewables policy
14 February 2025
Focus on facilities in Spain, Egypt and the UK as Mideast Gulf country aims to scale up output to supply markets in Europe and Asia
12 February 2025
Tax incentives attract multiple proposals for hydrogen hubs as government launches new initiative to speed up transition
