Spanish power company Naturgy plans to invest up to US$1.8 billion in the United States after making its first push into the U.S. renewable market with the US$57 million acquisition of a solar energy developer, the company said on Friday.
FILE PHOTO: The logo of Spanish energy company"Naturgy" is seen in the door of its headquarters in Madrid, Spain, October 9, 2018. REUTERS/Sergio PerezMADRID: Spanish power company Naturgy plans to invest up to US$1.8 billion in the United States after making its first push into the U.S. renewable market with the US$57 million acquisition of a solar energy developer, the company said on Friday.
Naturgy plans to make the investments over a five-year period, it said, as it announced the acquisition of Hamel Renewables LLC in a transaction that valued the firm at US$57 million.The Spanish company plans to grow to operate 1.6 gigawatts of renewable capacity by 2025 in the United States, and up to 8 GW of solar capacity by 2030.