Naturgy raises ordinary renewables EBITDA in H1 2022

Carpio de Tajo solar farm in Toledo, Spain. Image by Naturgy (www.naturgy.com)

August 11 (Renewables Now) - Spanish power and gas utility Naturgy Energy Group SA (BME:NTGY) today said its renewables and new businesses unit recorded ordinary EBITDA of EUR 187 million (USD 193.8m) for the first half of 2022, marking an increase of 5.1% year-on-year.

The growth was underpinned by the enewables earnings in Spain, mainly on the back of higher prices and contract changes, partially offset by lower hydro power production and the negative impact from new regulatory measures, Naturgy said in the financial report for the half-year period.

Reported EBITDA of the renewables and new businesses unit came at EUR 164 million, down by 11.4% year-on-year.

Naturgy’s renewable energy plants reduced total power production output by 26.7% on the year to 4.495 GWh over the first half of the year.

The company arrived at the end of June with 5,315 MW of renewables capacity, between wind, solar, hydro and others, up from 5,177 MW reported in the same period a year ago.

(EUR 1.0 = USD 1.036)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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