Navantia Enters Enagás Renovable With The Acquisition Of 5% Of Its Capital

Enagás and Navantia have signed an agreement this Wednesday by which the public naval company has joined the shareholding of Enagás Renovable, acquiring 5% of its share capital.

This operation reinforces the fulfillment of the objective announced by Enagás in the presentation of its 2022-2030 Strategic Plan to admit new reference investors in Enagás Renovable.

On July 20, Enagás Renovable became a shareholder of Hy24, a joint venture between Ardian and FiveT Hydrogen, which represents the largest investment platform in renewable hydrogen infrastructure in the world. Through a capital increase of the Enagás subsidiary, Hy24 acquired a 30% stake in Enagás Renovable through Clean H2 Infra Fund. On July 26, Pontegadea also became a shareholder of Enagás Renovable with 5% of the share capital.

After these operations, the shareholding composition of Enagás Renovable remains: Enagás maintains 60% of the shares, Hy24 has 30%, Pontegadea with 5% and Navantia with the remaining 5%.

First corporate operation
This corporate operation is the first for Navantia Seenergies since its launch last April. This brand is intended to boost the company’s business in the area of ​​green energy , especially offshore wind power, and in emerging markets such as green hydrogen and renewable gases.

Ricardo Domínguez, President of Navantia, has stressed that “this agreement represents a great opportunity for Navantia Seenergies and a firm commitment to contribute to decarbonisation, to collaborate with key players in the field of renewable gas, and to promote, as a driving company, the entire value chain and sustainable job creation”.

The CEO of Enagás, Arturo Gonzalo, highlighted “the importance of a strategic company such as Navantia 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 Route of the Government of Spain and with the objectives of the European strategy REPowerEU”.

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