Enagas sells 30% stake in renewable business to Hy24

Renewable energy in Cambodia

Spain based gas grid operator Enagas has sold a 30 percent stake in its renewable business Enagas Renovable to Hy24, a partnership between buyout fund Ardian and green hydrogen investor FiveT.

Enagas will make a capital gain worth about 50 million euros ($51.2 million) on the transaction.

Enagas and its new partners intend to develop green hydrogen and other decarbonisation projects.

The gas grid operator earlier this month said it expected to invest 4.76 billion euros by 2030 on projects to ensure energy supplies and decarbonisation.