Enagás and Naturgy will work together to develop the largest hydrogen plant in Spain in León. The aim will be to produce up to approximately 9,000 tons per year of renewable hydrogen from a 400 MW photovoltaic plant and an electrolyzer of up to 60 MW. The energy generated will not only be used to cover local consumption, but will also be injected into the gas network and be an option for future export to northwestern Europe.
Spain does not want to be left behind in the area of renewable hydrogen, currently the most efficient technological solution for storing and transporting energy. The government has already launched a consultation of its ‘Hydrogen Roadmap’. The draft includes 57 measures to prepare the regulatory framework and sets targets for 2030 such as reaching an installed capacity of 4 GW, which represents 10% of the target set by the European Commission for the whole of the EU.
The European Union has given Enagás the green light to develop 15 refueling stations for LNG vehicles and one for hydrogen. This move is within the framework of the ‘ECO-net’ project, coordinated by the Spanish energy company. The project has a global budget of approximately 13 million euros. These supply points – the hydrogen one will be the first in Spain at 700 bar pressure – will be distributed along the Spanish corridors of the Trans-European Transport Network.
Enagás and BP Oil España have signed an agreement to promote emission reduction projects in Spain. Their objective is to boost the role of renewable gases in the energy mix, helping to reduce the carbon footprint. So Enagás, through its subsidiary Scale Gas, will roll out LNG and CNG sale points in BP’s filling stations’ network, promoting the use of a low emission energy source as fuel in the automotive sector.
Enagás has signed an agreement with another Spanish firm, Ampere Energy, to jointly develop several R&D projects for hydrogen production with solar energy and batteries. This will be carried out at the regasification plant in Cartagena (Murcia), owned by Enagás.
The Ministry for Ecological Transition plans to make changes to the law which will affect Red Eléctrica and Enagás, operators of Spain’s electricity and gas networks, respectively. According to press reports, the two companies, each with a stake of public capital, will be obliged to inform the competition supervisor (CNMC) of any interest they have in acquisitions (now they are not required to do so). The CNMC will not have the right of veto, but it will impose conditions on its approval.
The Spanish gas company presented its results for the first nine months. These are the main figures: Total income 884 M€ (-1.3%), EBITDA in book value 767 M€ (+6.9%). Net Annual Profit 333 M€ (+2.3%), Operational Cash Flow 775 M€ (+17) and Net Debt 4.234 Bn€ (vs 3.623 Bn€ in December 2018).
Sabadell | Blackstone Infrastructure Partners (29% Enagas) has launched a non-binding offer to increase its holding in the US Tallgrass from 44% to 100%, which would mean that Enagas would go from 12.5% to 25% indirect if it decides to participate, which has still not been decided.
Santander Corporate & Investment | The Ministry of Ecological Transition has published its response to the regulator´s (CNMC) proposals for changes to the rules on the gas and electricity transportation and distribution networks and gas storage installations. Based on the four documents presented in CNMC before the 9 August deadline, the Ministry values the regulator´s proposals favourably.
For the ratings agency, the reforms the Spanish regulator wants to carry out include a significant change in methodology which means less income for the companies in the sector in 2021-2026.