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Spanish electricity and gas utility Naturgy Energy will allocate about 60 percent of its 14 billion euro ($16.
6 billion) spending plan for 2021-2025 to boost renewable energy capacity
.
The average investment in Spain and globally will amount to around €1.
73 billion per year, totalling around €8.
7 billion
.
In the presentation of its strategic plan for 2021-2025, Naturgy said that the goal is to increase renewable energy EBITDA to €1 billion
by 2025.
Naturgy aims to triple its installed renewable energy capacity to 14 GW by mid-the next 10 years from the current 4.
6 GW
.
The company said it plans to add 5.
2 GW in Europe and 2.
2 GW in Australia, as well as include some capacity
in countries such as the United States and Chile.
The Group's financial target is an EBITDA of EUR 4.
8 billion and a net profit of EUR 1.
6 billion in 2025.
The strategic plan also foresees an investment of more than €4 billion in the grids of Spain and Latin America, dedicated to upgrading grid capacity to meet decarbonization needs
.
According to the utility, the rest of the proposed investment, more than 700 million euros, will be used for retail operations
.
Spanish electricity and gas utility Naturgy Energy will allocate about 60 percent of its 14 billion euro ($16.
6 billion) spending plan for 2021-2025 to boost renewable energy capacity
.
The average investment in Spain and globally will amount to around €1.
73 billion per year, totalling around €8.
7 billion
.
In the presentation of its strategic plan for 2021-2025, Naturgy said that the goal is to increase renewable energy EBITDA to €1 billion
by 2025.
Naturgy aims to triple its installed renewable energy capacity to 14 GW by mid-the next 10 years from the current 4.
6 GW
.
The company said it plans to add 5.
2 GW in Europe and 2.
2 GW in Australia, as well as include some capacity
in countries such as the United States and Chile.
The Group's financial target is an EBITDA of EUR 4.
8 billion and a net profit of EUR 1.
6 billion in 2025.
The strategic plan also foresees an investment of more than €4 billion in the grids of Spain and Latin America, dedicated to upgrading grid capacity to meet decarbonization needs
.
According to the utility, the rest of the proposed investment, more than 700 million euros, will be used for retail operations
.
