Pinsent Masons advises on 40% Enagás Renovable sale
Pinsent Masons has advised Enagás on the completed sale of a 40% stake in its renewable energy subsidiary, Enagás Renovable, to Hy24 for €48 million. Following the transaction, Enagás retains a 20% interest in the subsidiary. The deal is expected to generate a positive after-tax profit impact of approximately €9.5 million for Enagás in 2026, with the gain to be recorded in the second quarter of the year.
The divestment forms part of Enagás’ Strategic Update 2025–2030 and is driven by the company’s need to ensure full compliance with European regulations on the separation of activities, in light of its role in developing Spain’s Hydrogen Backbone Network. Enagás Renovable was established in 2019 with the primary objective of promoting the development of the renewable hydrogen and biomethane sectors in Spain during their early growth phases.
Legal team
The Pinsent Masons energy team advising on the transaction was led by Hermenegildo Altozano, partner, alongside Sergio Peñamaría, associate.
