A Transformative Partnership

On July 28th, our partner Naturgy Energy Group released the details of its strategic plan for the next four years. For some time, Naturgy has been clear they intend to position their business to contribute to and benefit from the global energy transition: consumers, companies and countries alike moving toward Net Zero emissions via renewable energy.

Naturgy has set a goal to be Net Zero by 2050, and outlined a plan to direct the majority of its EUR 14 billion capex budget toward renewable energy generation over the next four years. Specifically, EUR 8.7  billion, or 62% of all capex (and, nearly 88% of capex directed at generation) is targeted toward renewables across multiple geographies. 

In the US, Candela will play a leading role in Naturgy’s goal  to install 1.2 GW of solar capacity by 2025. When we first announced our partnership with Naturgy at the beginning of the year, we celebrated it as a milestone in Candela’s evolution as it put us in the best possible position to serve our clients: it broadened our access to capital, offered scale and a long-term, strategic owner of energy assets.

Perhaps most importantly, our partnership is based on a shared commitment: to further the sustainable development and expansion of the supply of environmentally-friendly and economically competitive energy. 

Our partnership with Naturgy is a transformative, sustainable energy investment platform and  our path forward is even clearer today for the companies and communities Candela serves.

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