Ambitious Strategy Targets 9.5% Annual EBITDA Growth and Decarbonization Leadership by 2030
Enagás has announced a €4.035 billion investment plan through 2030, with green hydrogen as the cornerstone of its growth strategy. The Spanish energy infrastructure company aims to allocate €3.125 billion of this investment to renewable hydrogen infrastructure, driving significant progress in Europe’s energy transition and decarbonization efforts.
2024 Performance Highlights:
- Recurring net profit: €310.1 million, a 3.2% increase over 2023.
- Debt reduction: The sale of its Tallgrass Energy stake reduced net debt by €1 billion, enhancing financial stability.
- Credit rating boost: Upgraded by S&P and Fitch from BBB to BBB+, reflecting a stronger balance sheet.
- Sustainability leadership: Achieved a 22.5% reduction in CO₂ emissions in 2024, aligned with Net Zero by 2040 goals.
Strategic Update: Key Investments and Growth Projections
€3.125 Billion for Green Hydrogen
The 2025-2030 Strategic Plan earmarks 83% of investments for environmentally sustainable projects. The main focus is on developing renewable hydrogen infrastructure, which is expected to outweigh natural gas assets by 2030.
Key Projects:
- Spanish Hydrogen Backbone: Completed conceptual design and awarded basic engineering for compressor stations.
- H2med Corridor: Enagás is leading Europe’s most advanced hydrogen corridor, with 528 projects submitted by 168 companies.
- Scale Green Energy Launch: A new subsidiary focused on CO₂ management, LNG and BioLNG bunkering, renewable hydrogen for mobility, and green ammonia production.
Natural Gas Infrastructure Remains Vital
While green hydrogen is the focus, natural gas infrastructure will continue to support energy stability amid growing electricity demand and renewable variability.
- Spain’s Gas System: Maintained 100% operational availability in 2024, despite international conflicts and extreme weather events.
- Storage and Supply: Underground storage reached 100% capacity, solidifying Spain’s role as a key LNG entry point for Europe.
Sustainability and Financial Outlook for 2025:
- Net profit target: ~€265 million.
- EBITDA projection: ~€670 million.
- Net debt goal: ~€2.4 billion.
- Dividend commitment: €1 per share.
Supporting the Energy Transition in Europe:
Enagás is enhancing green hydrogen initiatives with support from the EU’s Connecting Europe Facility (CEF), securing €75.8 million in funding for Projects of Common Interest (PCI).
The company has also presented four new sections of the Spanish Hydrogen Backbone to the EU’s second PCI call, adding 1,480 km of pipeline infrastructure with an estimated €2.135 billion investment, to be realized post-2030.
Driving Digital Transformation and Sustainability:
Enagás is advancing its Digital Transformation Plan, incorporating cybersecurity and artificial intelligence to boost business resilience and streamline operations.
The company continues to excel in Environmental, Social, and Governance (ESG) metrics, being a 17-year leader in the Dow Jones Sustainability Index and maintaining a top ESG rating in the FTSE4Good index.
Looking Ahead:
With innovative projects like CO2necta and MOSUSOL NetCO2, Enagás is setting a course for long-term growth and sustainability leadership. The Scale Green Energy initiative is poised to reduce cement industry emissions by 4 million tonnes annually by 2030, demonstrating the company’s broad impact across multiple sectors.
Enagás’ strategic investments, strong financial position, and commitment to green hydrogen reinforce its role as a key player in Europe’s decarbonization journey, paving the way for a cleaner, more resilient energy future.
