Naturgy to Invest EUR1.34 Billion in Spain's Electricity Grid to Boost Energy Transition
By Najat Kantouar
Naturgy said that UFD--the group's electricity distributor--plans to invest 1.34 billion euros ($1.45 billion) through 2027 in Spain's electricity grid to boost the country's energy transition.
The Spanish natural-gas and power utility said Monday that the figure represents a 11% increase from investments between 2020 and 2023. The bulk of the investment will be concentrated in the northwestern region of Galicia--where UFD is the main electricity distributor--with an allocation of EUR590 million between 2024 and 2027.
The rest of the investment will be divided between the regions of Castilla-La Mancha with EUR309 million, Madrid with EUR276 million, and Castilla y Leon with EUR164 million.
Write to Najat Kantouar at najat.kantouar@wsj.com
(END) Dow Jones Newswires
June 03, 2024 04:46 ET (08:46 GMT)
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