Search engine for press release
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.
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.
The Chairman and Chief Executive Officer of Naturgy, Francisco Reynés, chaired the company’s Ordinary General Shareholders' Meeting, which was held earlier today in Madrid in a hybrid format (in-person and online). The shareholders approved the Annual Accounts and the Management Report for 2021, in which the forecast results were met despite a volatile energy situation.
The Board of Directors of Naturgy, at the proposal of the Management Committee, unanimously decided last week to give the green light to launch the Gemini project, which consists of a profound reorganisation of the company and represents a new step in its transformation process. The project aims at responding to the important changes that are taking place in the energy sector and that will mark its future.
Naturgy closed the 2021 financial year with an EBITDA of 3,983 million euros, up 7.2% on the previous year. The company has fulfilled its EBITDA forecasts within a volatile energy scenario characterised by a gradual recovery in demand and a significant increase in the price of commodities, both electricity and gas, especially in the second half of the year.
Copenhagen Infrastructure Partners develops the first phase of Project Catalina in partnership with Enagás, Naturgy, Fertiberia and Vestas. Project Catalina is a pioneering green hydrogen and green ammonia GW-scale project that aims to bring the abundant renewable resources of Aragon to the industrial consumption points on the Spanish Eastern coast through energy efficient and environmentally friendly infrastructure. Project Catalina intends to develop 5GW of combined wind and solar in Aragon (Spain) and produce green hydrogen through a 2GW electrolyser. Once fully implemented, Catalina will produce enough green hydrogen to supply 30% of Spain’s current hydrogen demand.
Contact
