Naturgy has started construction work on its first battery storage projects in Spain; batteries that will hybridise the photovoltaic parks of Tabernas I and II, in the province of Almeria, and El Escobar and Piletas I, in Las Palmas (Canary Islands), also managed by Naturgy.
Naturgy has successfully connected its first battery storage facility in the world to the grid, a historical milestone for the company in the renewables business. The ACT Battery project, located in Australia and developed and built by its international generation subsidiary Global Power Generation (GPG), will reinforce supply quality to the city of Canberra and accelerate the energy transition in the country by allowing for greater penetration of renewable energy in the grid.
Naturgy has received a favourable Environmental Impact Statement (EIS) for 18 wind and photovoltaic projects, jointly representing over 1.3 GW power. The environmental green light for these developments allows the power company to strengthen its commitment to the energy transition and continue to progress in its decarbonisation strategy.
A pan-European project officially launched on November 18th in Paris to accelerate the roll out of the next generation of floating wind technology for a competitive, more scalable and industrial deployment. The ambitious initiative is being led by a consortium of thirteen partners from eight countries including Technip Energies as project coordinator, X1Wind, Naturgy, 2B Energy, Hellenic Cables, Technical University of Denmark, Hydro, Ecole Centrale de Nantes, Schwartz Hautmont, Ocas, Tersan Shipyard, Ocean Ecostructures and Cybernetix.
Naturgy closed the third quarter of 2022 with sizeable organic investments that have boosted its EBITDA to EUR 3.5 billion to achieve a reported net income of EUR 1.06 billion, in an environment of persistently high volatility in international energy markets and high regulatory uncertainly. These results up to September incorporate the retroactive effects of the new purchase price agreement reached with Sonatrach last October. They also include the estimated impact of decoupling the final gas sales prices from their current TTF-indexed hedges.
On Wednesday, the Spanish Minister for Industry, Trade and Tourism, Reyes Maroto, officially opened the first battery storage facility to be operated by the Naturgy power company anywhere in the world. During her visit, the minister was told about the cutting-edge technology used at this facility alongside Francisco Bustío, the Managing Director of Global Power Generation (GPG) - the international power generation subsidiary of Naturgy, and other members of the GPG team in the country.
Global Power Generation (GPG), a joint venture of Naturgy Energy Group, SA (75%) and the Kuwait Investment Authority (25%), has acquired the Cunderdin hybrid PV solar and energy storage project, with a circa 125 MWdc (100 MWac) solar PV capacity and a 55 MW / 220 MWh battery energy storage system. The Project’s construction is expected to officially start in the last quarter of 2022, while the commercial operation is anticipated to commence in the first quarter of 2024.
The accounts filed by the company include the possible impact from the recent sentence imposed on the Chilean company Metrogas (in which Naturgy holds a 55.6% stake), a ruling that will be appealed. The most cautious estimate of that impact on consolidated net profit for Naturgy stands at 126 million euros.
Naturgy has started construction of its first renewable energy facility in the United States, the 7V Solar Ranch photovoltaic plant, in the state of Texas, which will have an installed capacity of 300 MWdc. The project investment will amount to 264 million euros.
The company closed the first quarter with an ordinary net profit of €354 million and an Ebitda of €1.07 billion. The period has been marked by the recovery of international activity, while operations inside Spain continued to be under pressure on profit margins and there was a slight drop in demand.
UFD, la distribuidora eléctrica del grupo Naturgy, ha invertido cerca de 1.250 millones de euros en los últimos cinco años para mejorar su calidad servicio y reforzar sus infraestructuras en España.
Contact
If you are a journalist and need information about Naturgy operations, you can get in touch with us via prensa@naturgy.com.
Subscribe to our newsletter
Si te interesa el mundo de la energía y el proceso de transformación en el que está inmersa, te invitamos a compartir nuestra visión de futuro sobre los retos de la transición energética.
Subscribe to our newsletter
Si te interesa el mundo de la energía y el proceso de transformación en el que está inmersa, te invitamos a compartir nuestra visión de futuro sobre los retos de la transición energética.