Naturgy to Plough $16.5 Bln Into Renewables, Networks By 2025
0
0
Madrid : Spanish power group Naturgy said on Wednesday it plans to invest 14 billion euros ($16.54 billion) mostly to ramp up its renewable generation capacity and transform power and gas networks to boost core earnings around 30% by 2025.
Long a major producer and trader of natural gas, Naturgy is trying to shift to the low-carbon energy sources that governments across the world hope will reduce their dependence on planet-warming fossil fuels.
It wants to add 9.4 gigawatts of capacity to its renewable fleet to reach 14 GW in total and raise annual ordinary earnings before interest, tax, depreciation and amortisation (EBITDA) to 4.8 billion euros in 2025 from 3.7 billion euros in 2020.
Of the total, it will spend 1.2 billion euros on its energy management and supply businesses.
Source : reuters
