Naturgy to invest up to $1.8 billion in U.S. after $57 million acquisition

Spanish power company Naturgy plans to invest up to $1.8 billion in the United States after making its first push into the U.S. renewable market with the $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 $57 million.

The Spanish company plans to grow to operate 1.6 gigawatts (GW) of renewable capacity by 2025 in the United States, and up to 8 GW of solar capacity by 2030.

Lucy Harlow

Lucy Harlow is a senior Correspondent who has been reporting about Equities, Commodities, Currencies, Bonds etc across the globe for last 10 years. She reports from New York and tracks daily movement of various indices across the Globe