Basque Government takes 1% stake in Enagás as Spanish gas-grid operator pivots to green hydrogen
In the UK, Fuel Cells Works reported that the Basque Government, through the Basque Institute of Finance (IVF), has completed the purchase of 1% of the share capital of Enagás, an operation executed through Indartuz, the financial tool promoted under the Euskadi Eraldatuz 2030 Plan.
This acquisition is the first direct investment of this transformational vehicle of society, constitutes a strategic investment in a fundamental asset in energy autonomy and in the security of energy supply, according to the report.
Enagás has a critical infrastructure for the operation of the energy system and for the guarantee of supply in the Basque Country. Its role acquires even greater relevance in a context of transformation of the energy model, in which the company is also called to play a central role in the deployment of the green hydrogen backbone and in the European corridor H2Med, the trans-European initiative that will allow connecting the hydrogen transport network of the Iberian Peninsula with northwestern Europe, the report added.
In addition, Enagás and the Basque Government jointly lead the “Hub COnet2” project. This project will be key to help decarbonize difficult-to-deject industrial sectors, in line with the European CO2 reduction targets. Both the green hydrogen backbone and the “Hub COnet2” project are European Common Interest Projects (PCIs).
Category: Hydrogen
