Torozos II wind farm in Valladolid province, Spain. Image source: Naturgy Energy Group (handout)
The renewables and new businesses unit of Spanish power and gas utility Naturgy Energy Group SA (BME:NTGY) grew reported EBITDA by 45.1% year-on-year to EUR 254 million (USD 261.4m) for the nine-month period of 2022, the group said in its earnings presentation on Friday.
The result accounted for 7.25% of Naturgy’s total reported EBITDA for January through September, which rose by 36.8% on the year to over EUR 3.5 billion.
The company did not release any information on the operational performance of its renewables portfolio. It did say it had commissioned close to 1 GW of renewables by September, boasting now over 5.4 GW of installed capacity.
In native Spain, Naturgy is currently building some 30 wind and solar PV farms, which will add up to almost 1 GW of new power over the coming months.
The company is also working on biomethane and hydrogen projects valued at around EUR 4 billion. Through its gas distribution unit, Naturgy has a portfolio of biomethane plant projects that could inject close to 6 TWh per year into the gas grid, it said.
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