Enagás Plans to Operate Hydrogen Network in Spain
The Spanish company is looking to shift its focus towards hydrogen infrastructure and away from its renewable energy subsidiary in the near future.
Enagás, a Spanish energy company that owns 5% of the State through SEPI, is planning to operate a hydrogen network in Spain. The company is looking to gain control over the substance that could eventually replace gas, subject to Europe’s approval. To meet European requirements, Enagás will sell Enagás Renovables, its renewable energy subsidiary.
Enagás Renovables is 60% controlled by Enagás, with the remaining 40% being owned by other partners, including Hy24, Ardian, Credit Agricole, FiveT Hydrogen, Pontegadea, and Navantia. According to insiders, Hy24 is under pressure to sell its 30% stake, and the French investment firm Ardian is in the running to acquire a portion of the stock.
Enagás has 25 renewable hydrogen development projects and 21 biomethane development projects in its portfolio of assets. The company plans to become a hydrogen network operator, and its CEO, Arturo Gonzalo, emphasized the importance of infrastructure, stating that Enagás Renovables will be sold to meet the company’s strategic objectives.
Enagás plans to shift its focus towards hydrogen infrastructure and away from its renewable energy subsidiary, aiming to improve its risk profile and meet European requirements. The company’s commitments to create Spain’s future hydrogen network until 2030 require significant investment, totaling €7 billion, and annual dividends of €410 million.