Purchased through Ortega’s investment branch, Pontegadea, the transaction comes to reinforce Enagás’ 2022-2030 strategic plan to allow new benchmark investors take up stakes in Enagás Renovable.

In February (2022) hydrogen infrastructure fund Hy24, became a shareholder of Enagás Renovable, seeing it take a 30% stake in the Enagás subsidiary through its Clean H2 Infra Fund, with hopes of making the firm an aggregator for green hydrogen hubs in Spain.

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Coming at a time when the drive towards a hydrogen’s introduction into economies worldwide seems stronger than ever, it is hoped the acquisition will contribute to Enagás meeting both Spanish and European hydrogen goals.

Artuto Gonzalo, CEO of Enagás, said, “The importance of having a benchmark investment group such as Pontegadea as our partner in Enagás Renovable, at a crucial time for the development of renewable gases in our country, in line with the Spanish Government’s Hydrogen and Biogas Roadmap and the targets of the European REPowerEU strategy.”

Roberto Cibeira, CEO of Pontegadeo, added, “The acquisition of a stake in Enagás Renovable consolidates Pontegadea’s commitment to the renewable energy sector, in line with other investments made by the group recently.

“This operation also allows us to support innovation in this type of energy, contributing to the development of technology for obtaining hydrogen and biogas in Spain hand in hand with benchmark partners such as Enagás and Hy24”.