Naturgy expands to US, invests $1.8B in renewable energy

Friday, 15. January 2021 09:35

Spanish multinational natural gas and electrical energy utilities group, Naturgy Energy, said on Friday it wants to expand into the United States by investing approximately $1.8 billion in renewable energy projects.

According to the company, the first step has been made as it bought, through its subsidiary Naturgy Solar USA, 100% of the solar company Hamel Renewables for $57 million. The company also signed a five-year development agreement with the San Francisco-based solar-wind company Candela Renewables.

Naturgy also said it intends to have an operating power of 1.6 GW by 2025, and up to 8 GW of solar capacity by 2030.

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Breaking the News / TF