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Enagás sells 30% of its subsidiary Enagás Renovable to the hydrogen infrastructure investment platform Hy24

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The gas company, which announced this agreement on July 12 during the presentation of its 2022-2030 Strategic Plan, today confirmed the sale, which will give it a capital gain of approximately 50 million euros. The purchasing party, Hy24, is a joint venture formed by Ardian and FiveT Hydrogen, and has specifically acquired 30% of the share capital. Hy24 boasts of being the largest investment platform in clean hydrogen infrastructure in the world.

Enagás today made official the incorporation of Hy24, the joint venture formed by Ardian and FiveT Hydrogen, into its subsidiary Enagás Renovable. As Enagás announced in the presentation of its 2022-2030 Strategic Plan on the 12th, the operation generates a capital gain for Enagas of approximately 50 million euros. The Board of Directors of Enagás Renovable will be chaired by Marta Margarit, a professional with extensive experience in the energy sector and general secretary of Sedigas until 2021, and will have Antón Martínez as chief executive officer, until now director of Enagás Renovable and Services. Hy24’s investment has been carried out -Enagas informs- through the Clean H2 Infra Fund, through a capital increase in Enagás Renovable.

Arturo Gonzalo, CEO of Enagás : “This agreement allows us to accelerate the creation of a hydrogen market, promoting joint projects to contribute to a fair energy transition and decarbonise energy, helping to achieve the hydrogen objectives of the Roadmap of the Hydrogen and Biogas of the Government of Spain and the objectives of the European strategy REPowerEU”

Pierre-Etienne Franc, Executive Director of Hy24 : “Our partnership with Enagás will contribute to carrying out large-scale green hydrogen projects to decarbonise the industry and transport sectors in Spain. The closing of this transaction, one of the first investments made by our Clean H2 Infra Fund, is an important step that allows Hy24 to execute its strategy of acting as a catalyst in investment in green hydrogen infrastructure”

Enagás Renovable assures that it has a portfolio of “more than 50 specific projects in Spain in the field of renewable gases and decarbonisation”, which makes it one of the largest European platforms for renewable gas projects.

The Enagás subsidiary already has several projects. Among them, the start-up of the first green hydrogen industrial plant in Spain, located in Lloseta (Mallorca). The most advanced Enagás Renewable projects together represent, according to data provided by the gas company, “more than a thousand megawatts of electrolysis, have an estimated commercial operation date until 2026, and account for around 25% of the objective of the Roadmap of Hydrogen in Spain in terms of installed capacity by 2030”.

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