Amancio Ortega becomes a shareholder of the Enagás Renovable subsidiary. Pontegadea, the investment arm of Inditex’s founder and largest shareholder, joins Hy24, the joint venture between Ardian and FiveT Hydrogen, which has acquired 30% of the green subsidiary of the Spanish gas system manager, which is very focused on green hydrogen. The amount of the operation is around 3.5 million euros.
The transaction, announced by Enagás in a press release this Wednesday, “strengthens compliance with the objective of providing access to new reference investors” in its renewable energy subsidiary. After these two transactions, 65% of the capital of Enagás Renovables remains in the hands of the parent company, 30% belongs to Hy24 and the remaining 5% to Pontegadea.
Enagás CEO Arturo Gonzalo stressed “the importance of a benchmark investment group like Pontegadea, which is 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 by the Spanish government 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 solidifies Pontegadea’s commitment to the renewable energy sector, in line with other recent investments made by the group. This operation also allows us to support innovations in this type of energy and contribute to the development of technologies for the production of hydrogen and biogas in Spain with reference partners such as Enagás and Hy24.
Enagás earned 164 million in the first half of the year
The manager of the Spanish gas system and parent company of Enagás Renovable —Enagás— made a net profit of 215 million euros in the first half of the year, according to results presented this Wednesday. It is 1% more than the same period last year and, as he says, corresponds to the targets for the whole year set 15 days ago in his new strategic plan (2022-2030), whose priority is to ensure gas supplies in Spain and Europe. For the year as a whole, the company, managed by Arturo Gonzalo, is forecasting a profit of between 380 and 390 million, including extraordinary capital gains such as the partial sale of the green subsidiary.