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    NTGY   ES0116870314

NATURGY ENERGY GROUP, S.A.

(NTGY)
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Naturgy Energy S A : to invest up to $1.8 billion in U.S. after solar acquisition

01/15/2021 | 05:22am EDT
FILE PHOTO: The logo of Spanish energy company

MADRID (Reuters) - Spanish power company Naturgy plans to invest up to $1.8 billion in the United States after making its first push into the U.S. market with a deal to buy a solar energy developer, the company said on Friday.

Naturgy plans to make the investments over a five-year period, it said, announcing the acquisition of Hamel Renewables in a transaction valuing the firm at $57 million including debt.

The deal includes an exclusive agreement with San Francisco-based Candela Renewables to develop Hamel's portfolio, which contains 8 gigawatts (GW) of solar projects and 4.6 GW of storage.

Two sources familiar with the matter told Reuters on Wednesday that Naturgy was close to signing a deal with Candela, which was founded in 2018 by former First Solar employees.

Twenty-five of the projects, representing 3.2 GW of solar capacity and 2 GW of storage, could be up and running by 2026, Naturgy said.

(Reporting by Inti Landauro and Isla Binnie. Editing by Mark Potter)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
FIRST SOLAR, INC. 0.71% 104.02 Delayed Quote.4.42%
NATURGY ENERGY GROUP, S.A. -1.05% 21.59 Delayed Quote.15.08%
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Financials
Sales 2021 17 633 M 20 673 M 20 673 M
Net income 2021 1 285 M 1 507 M 1 507 M
Net Debt 2021 11 944 M 14 003 M 14 003 M
P/E ratio 2021 16,3x
Yield 2021 5,56%
Capitalization 20 747 M 24 353 M 24 323 M
EV / Sales 2021 1,85x
EV / Sales 2022 1,80x
Nbr of Employees 8 552
Free-Float 27,7%
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Naturgy Energy Group, S.A. Technical Analysis Chart | NTGY | ES0116870314 | MarketScreener
Technical analysis trends NATURGY ENERGY GROUP, S.A.
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Mean consensus HOLD
Number of Analysts 17
Last Close Price 21,59 €
Average target price 22,03 €
Spread / Average Target 2,05%
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Managers and Directors
Francisco Miguel Reynés Massanet Chairman & Chief Executive Officer
Carlos Ayuso Salinas Director-Internal Audit, Compliance & Control
Ramón Adell Ramón Independent Director
Francisco Belil Creixell Independent Director
Helena Herrero Starkie Independent Director
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