Naturgy returns to Italy six years later with an expansion plan in renewables

Naturgy left Italy six years ago. The company, which was still called Gas Natural Fenosa at the time, closed two separate deals in 2014 to divest itself of its distribution networks and its electricity and gas supply business for just over €1,000 million. Now the company is back in Italy and it does so with a growth plan in the installation of renewable power plants.

The company led by Francisco Reynes seals its return with the signing of several agreements to develop photovoltaic and wind projects in Italy. For the time being, the company Processing of more than 200 megawatts (MW) has begun in two solar power plantsto which an additional 35 MW in battery storage will be added.

The two projects already underway will be located in the regions of Apulia and Lazio. Both installations are in an advanced state of administrative development, so their entry into operation is scheduled for 2025. Both projects are designed as agrovoltaic, that is, installed on agricultural land to make them compatible with the agricultural activity of both regions .

These 200 MW in the pipeline are just the first step. The company’s plans in the Italian market include a wide expansion. Naturgy reached several agreements with local developers and players to add new capacity to its portfolio and It has already identified other potential developments with a capacity greater than 800 MW.

A commitment to Italy that is also materialized through the branch opening in Rome to coordinate and improve the deployment of your investments. The new office is led by Filipo Checcucci, general manager of Naturgy in Italy, with more than a decade of experience in different areas of the group.

In this way, Naturgy finds another market in Italy to accelerate its international deployment strategy of its renewable energy business, which already has operational or development projects, especially in Australia and the United States. “Naturgy has a clear, concrete and realistic objective of renewable development in Europe as well. Italy is another step in our decision to reach 60% renewable generation in the world in the coming years”, explained Jorge Barredo, director general of Renewables, New Businesses and Innovation at the company.

Naturgy’s strategic plan until 2025 includes some investments of 14,000 million, of which around two thirds will be dedicated to the addition of renewable generation facilities. Currently, the company has more than 5,500 MW of power in international operation and has a portfolio of more than 195 projects in Spain, Australia and the United States. In Spain, the company continues to advance in the construction of around 30 wind and solar projects, which are expected to come on stream in the coming months.