Enagás provides 5% share to Navantia in Enagás Renovable

Enagás and Navantia have signed an agreement by which the public naval company has joined the shareholding of Enagás Renovable, acquiring 5% of its share capital.

This transaction reinforces the fulfilment of the objective announced by Enagás in its 2022-2030 Strategic Plan, to allow new benchmark investors to enter Enagás Renovable.

On 20 July, Hy24, a joint venture between Ardian and FiveT Hydrogen, became a shareholder of Enagás Renovable. Hy24 is the world’s largest investment platform in renewable hydrogen infrastructures. Through a capital increase of the Enagás subsidiary, Hy24 acquired a 30% stake in Enagás Renovable through its Clean H2 Infra Fund. On 26 July, Pontegadea also became a shareholder of Enagás Renovable with 5% of the share capital.

Following these three transactions and as of today, the shareholder structure of Enagás Removable is as follows: Enagás holds 60% of the shares, Hy24 has 30%, Pontegadea 5% and Navantia the remaining 5%.

In the case of Navantia, this is the first corporate operation since the launch last April of its Navantia Seanergies brand, aimed at boosting the company’s business in the green energy area, especially offshore wind energy and emerging markets such as green hydrogen and renewable gases.

It is also a strategic and relevant opportunity for SEPI to enter a growing sector aligned with the objectives of green energy development, decarbonisation, sustainable job creation and the development of collaborative projects with key partners in the sector.

Ricardo Domínguez, President of Navantia, said, “This agreement represents a great opportunity for Navantia Seanergies and a firm commitment to contribute to decarbonisation.”

Arturo Gonzalo, CEO of Enagás, said, “The importance of having a strategic company such as Navantia as our partner in Enagás Renovable, at a crucial time for the development of renewable gases in our country, in line with the Spanish Government’s Hydrogen and Biogas Roadmap.”