Skip to content
Magazine
Saturday, August 2, 2025
SUBSCRIBE
  • About Us
  • Belgium News
    • Belgium Police News
    • Brussels News
  • EU Institutions News
    • European Commission News
    • European Parliament News
    • European Council News
  • Europe News
  • World News
  • Belgium Business News
  • Culture and Society News
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Sustainable Perspective
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
  • About Us
  • Belgium News
    • Belgium Police News
    • Brussels News
  • EU Institutions News
    • European Commission News
    • European Parliament News
    • European Council News
  • Europe News
  • World News
  • Belgium Business News
  • Culture and Society News
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Sustainable Perspective
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
SUBSCRIBE

Spain’s Naturgy announces green investments worth 14bn euro

Shiva Singh by Shiva Singh
29 July 2021
in Belgium Business And Economy News
Spanish Prime Minister Pedro Sanchez Photographer: Kena Betancur/AFP/Getty Images

Spanish Prime Minister Pedro Sanchez Photographer: Kena Betancur/AFP/Getty Images

Brussels (Brussels Morning) Spain’s Naturgy gas and power utility announced plans to invest 14 billion euro in renewable energy projects and the modernisation of its natural gas and power networks in the next five years.

The company pointed out that the move aims to increase core earnings by approximately 30% by 2025, Reuters reported. 

Naturgy is looking to move away from its traditional natural gas business into renewables and green technologies as part of the global shift away from fossil fuels.

The company plans to increase power generation from renewable energy sources roughly 9.4 GW in the observed period to reach an output of 14 GW in 2025. In addition, Naturgy plans to increase its earnings before interest, taxes, depreciation and amortization (EBITDA) from some 3.7 billion euro in 2020 to about 4.8 billion in 2025.

The company posted a net profit of 557 million euro in the first half of the year, representing an annual growth rate of about 17%, mainly attributable to recovering demand and energy prices.

At the same time, the result was roughly 20% lower compared to the corresponding period in 2019, which was before the start of the coronavirus crisis.

Importance of energy transition

Naturgy CEO Francisco Reynés described the move as “a plan that grows around the energy transition, something absolutely necessary for Naturgy today”.

While the plan is not focused on the acquisition or sale of assets, all options would be investigated, he said. Reynés also announced a shift of investments away from volatile markets in Latin America and towards more stable business environments, citing Australia, Europe and the US.

Naturgy plans to reach carbon neutrality by 2050, in keeping with the EU, which looks to cover 40% of its energy needs with power generated from renewables by 2030.

At the start of the year, the Australian IFM Global Infrastructure Fund offered 4.9 billion euro for 23% of Naturgy and is still waiting for approval.

Related News:

  • EC announces LIFE environmental projects worth 110mn euro
  • Spain announces billion-euro package to aid pandemic-hit businesses
  • EU approves EIB green plan worth 1 trillion euro
  • France calls for common rules on green investments with US
Next Post
Brussels,,Belgium,-,June,22,,2019:,Berlaymont,European,Commision,Building

Commission signs deal for new COVID-19 antibody treatment

Latest post

EU-elections-UK

EU elections: UK looks on from the “outside”

1 year ago
Galeries-Royales-Saint-Hubert

What Makes Galeries Royales Saint-Hubert an “Institution”?

1 year ago

Most Read

    Follow Brussels Morning
    Facebook Twitter Youtube Linkedin

    Browse Important News

    Belgium News
    Brussels News
    Culture and Society News
    Economy News
    EU Institutions News
    European Commission News
    European Council News
    European Parliament News
    Europe News
    Health And Fitness News
    Southeast Europe News
    Sustainable Perspective
    World News
    Diplomacy News
    US Elections News

    About Us

    Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.

    More Info

    • About Us
    • Advertise With Us
    • Contact Us
    • Cookies Policy

    Join Our Newsletter

    Brussels Morning Newspaper – All Rights Reserved © 2024

    No Result
    View All Result
    • Home
    • About Us
    • Belgium News
      • Belgium Police News
      • Brussels News
    • Brussels Bubble
      • European Parliament News
      • European Commission News
      • European Council News
    • Wider Europe
      • Member States
    • World News
    • Business & Society
    • Europe With Transparency
    • Culture & Society
    • Policy Talks
      • Place de la Bourse
      • The Macro-Economist
      • Sustainable Perspective
      • Ambassador’s Corner
      • The American Angle
      • Southeast Europe
    • Print Magazine

    Brussels Morning Newspaper - All Rights Reserved © 2020

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
    Cookie settingsACCEPT
    Privacy & Cookies Policy

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
    Non-necessary
    Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
    SAVE & ACCEPT