The Diplomat
Naturgy has entered the US renewable energy market after buying, through its subsidiary Naturgy Solar USA, 100% of the economic interests in Hamel Renewables, a solar energy and storage development platform, the company reported yesterday to the National Securities Market Commission (CNMV).
Specifically, Hamel Renewables has an 8 GW solar project portfolio along with 4.6 GW of energy storage projects located in nine states, of which 25 projects for a total of 3.2 GW solar and 2 GW storage could be operational by 2026.
The transaction represents an ‘Enterprise Value’ of 57 million dollars (46.9 million euros) for 100% of the vehicle.