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Naturgy has managed to consolidate in the first half of 2024 the record results obtained last year, now in a more competitive scenario marked by a sharp global decline in energy prices. The Group recorded an EBITDA of 2,846 million euros and a net income of 1,043 million euros, both at the same level as last year. These results demonstrate the company's strength in adapting to the environment and generating value for its shareholders and are the result of a model based on operational efficiency, proactive risk management and financial discipline in capital management.
Naturgy continues to grow in the field of energy self-consumption with the launch of its Virtual Battery, a new product that adds to its solar proposal to offer its customers greater control over their consumption and help them save. With this new offer, Naturgy allows customers who have a photovoltaic installation at home to accumulate the amount corresponding to the energy surpluses not compensated in the bill as a balance in the Virtual Battery and use it to reduce the cost of their energy bills.
Naturgy Innovahub, el vehículo del Grupo energético enfocado en la investigación e innovación en tecnologías y nuevos modelos de negocio ligados a la sostenibilidad y la transición energética, celebra su primer aniversario con un balance de 15 proyectos industriales en marcha, la creación de dos sociedades disruptivas y un total de 20 startups incubadas en sus plataformas de emprendimiento.
Today, Naturgy released its financial results for the first six months of 2023 to the market, along with the strategic review for the 2025 horizon recently approved by its Board of Directors. These developments come after the company exceeded all objectives outlined in its 2018-2022 Strategic Plan. The first half of the year was characterised by a decline in energy prices amid persistent volatility and regulatory uncertainty. In this context, the company increased its investments to progress in its industrial plan and played a crucial role in ensuring energy supply security in Spain. This involved supplying gas to businesses and ensuring the continuity of supply in the Spanish power sector, where combined cycle power plants played a fundamental role.
Biomethane Initiatives, a joint venture created a year ago by Suma Capital, a sustainable infrastructure investment management company, and SITRA, an industrial water treatment, waste management and bioenergy company founded in Castellon, has reached an agreement with Nedgia, the gas distributor of the Naturgy group, to inject 40 GWh/year of biomethane into its gas network.
Naturgy goes one step further in its strategy to boost renewable gas and will, in collaboration with AEMA Servicios Energéticos, construct a new biomethane plant in the Valencian district of Utiel which will have the capacity to produce 20 GWh per year. The project’s construction will commence shortly as it has the environmental licence and planning permission granted by Utiel Town Council and will entail an investment of €2.7 million. Its start up date is planned for the beginning of 2025.
Naturgy has started up two new wind farms in the Canary Islands, which means the energy multinational now manages 12 in the Canary Islands, with a total installed capacity of 94.8 MW. The two new wind farms are Agüimes (10.75 MW), located in the municipal district of the same name, and Camino de la Madera (9.2 MW), in Santa Lucía de Tirajana, both on the island of Gran Canaria.
Naturgy, in cooperation with Compost Segrià, Sitra and Servei de Gestió Ramadera, has started processing a new renewable gas plant in Torrefarrera (Lleida), one of the main areas of Spain when it comes to the generation of agricultural and livestock waste. A total of 18 million euros is set to be invested in the plant.
Naturgy and Greene are collaborating on a project to produce syngas biomethanation for injection into the distribution network or for use in mobility. The innovative aspect of this project, unique in Spain, resides in the type of waste from which the bio-synthetic natural gas is obtained. A thermal process totally transforms the dry waste materials, contributing significantly to the circular economy by giving a second life to this type of difficult-to-process waste.
Through its international power generation subsidiary, Global Power Generation (GPG), Naturgy has begun to operate its third wind farm in Australia, Berrybank 2, increasing the company's total installed capacity in the country to 395 MW. The company also recently inaugurated the ACT Battery in Australia, the group's first utility-scale battery energy storage facility worldwide.
Today, Naturgy announced the acquisition of 100% of ASR Wind, which has a total of 422 MW in 12 wind farms operating in Spain. The transaction also includes a solar hybridisation pipeline of up to 435 MW in an advanced stage of development, with land and interconnection permits largely in place so that they will be mostly operational in 2025. The portfolio acquired also includes the possibility of repowering the wind installations at the end of the useful life of the farms, which on average are scheduled for 16 years’ time.
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