Naturgy is working to promote the energy transition and decarbonization, and has set the goal of achieving emissions neutrality by 2050 and an installed capacity from renewable sources close to 60% by 2025. With the aim of moving towards a more sustainable energy mix, the energy company plans to invest 14,000 million euros by 2025, of which almost two thirds will be allocated to boosting renewable generation. If it currently has about 5.3 GW of installed capacity in operation, the planned investment for the coming years will allow it to reach more than 14 GW.
Framed within this strategy is the development of new projects, not only in Spain but also in the rest of the world. Among them, those promoted in Australia and the United States stand out, two priority countries for the company for the coming years.
Naturgy has set the goal of achieving emissions neutrality by 2050 and an installed capacity from renewable sources close to 60% by 2025In Australia, the group aims to reach an installed capacity in the country of 2.2 GW by 2025, with an investment close to 2,000 million euros focused on the development of wind, photovoltaic, and storage system technology plants. In the country since 2007, Naturgy has 276 MW of installed capacity in operation with the Crookwell 2 (96 MW) and Berrybank 1 (180 MW) wind farms, in addition to finalizing the commissioning of another 109 MW in BerryBank 2. It also has a portfolio of wind projects of around 630 MW, backed by power purchase agreements already signed with Ryan Corner, Hawkesdale, Crookwell 3, and Paling Yards. Finally, Naturgy has a portfolio of 417 MW of wind facilities under development in the state of Victoria.
Naturgy has been present in Australia since 2007 and expects to reach an installed capacity of 2.26 GW by 2025Beyond wind energy, Naturgy has developedthe first battery storage facility it will launch globally. It is located in the Australian capital region, next to the city of Canberra, and will have a strategic character as support for the area's distribution network, with a power of 10 MW and a storage capacity of 20 MWh.
Another future project in Australia is the construction of its first global hybrid solar and storage project, with a photovoltaic solar capacity of 125 MW and a battery energy storage system of up to 220 MWh. With an investment of 160 million euros, its construction began in the last quarter of 2022, with the aim of entering commercial operation during the first quarter of 2024.
In Australia, Naturgy has launched its first battery storage facility worldwide, as well as its first hybrid solar and storage project.On the other hand, in the United States, Naturgy also continues its growth plan in renewable energies, having already started the construction of its first plant in the country, which will be located in Texas. With an investment of 264 million euros, it is expected to occupy an area of more than 800 hectares and have a capacity of 560 GWh of electricity per year. The schedule they are working with is for it to enter commercial operation before the end of 2023, with the creation of 200 jobs during the execution of the works and about 600 at peak times.
In any case, the company plans to invest more than 1,000 million euros in the country in the coming years to have an operational capacity of 500 MW in 2023 and 1,200 MW in 2025. In addition to this plant, last year, Naturgy bought in the United States a portfolio of 25 projects, which add up to more than 3.5 GW, and signed an exclusive development agreement for them with Candela Renewables for the next five years. This agreement enables the exclusive development of solar and energy storage projects for Naturgy, the first of which is the one that has begun to be built in Texas.
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