Naturgy finalizes a deal to buy solar energy company Candela Renewables, two sources told Reuters. This is the first agreement of the Spanish group in the United States, one of the markets where it wants to focus its expansion strategy in the next five years
The agreement will set Naturgy on the path to invest some 1.8 billion in green energy projects over the next five years. The transaction is expected to close by the end of the week.
The president-elect of the United States, Joe Biden, has pledged to achieve an “energy revolution” to increase dependence on energy such as solar or wind.
Candela Renewables, which is based in San Francisco and founded in 2018 by former First Solar employees, is valued at about $ 100 million. It specializes in renewable energy generation and storage.
The team has carried out more than 26 large-scale projects online in the United States. Its website names Apple and Microsoft among buyers for those projects.