Navantia and Amancio Ortega Exit Enagás Renovable; Hy24 Increases Stake to 80%
Enagás has sold its 40% stake in Enagás Renovable to Hy24, alongside a 10% exit from Navantia and Pontegadea. The transaction, valuing Enagás Renovable at €120 million, will have a positive after-tax profit impact of approximately €9.5 million for Enagás in 2026.
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Enagás has divested its 40% interest in Enagás Renovable, allowing Hy24 to increase its ownership to 80%. This follows the acquisition of a 5% stake from Pontegadea and Navantia, who are exiting the company, which focuses on hydrogen development.
Enagás will retain a 20% minority stake. The divestment aligns with the Strategic Update 2025-2030 and aims to comply with EU regulations concerning the separation of activities in hydrogen networks. Enagás Renovable was established to support renewable hydrogen and biomethane projects, with over 20 initiatives and 850MW of electrolysis capacity. The changes may enhance the development of Spain's hydrogen ecosystem.
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