Naturgy Energy S A : Buys Renewables Company in US for $57 Mln

By Kim Richters

Naturgy Energy Group SA said Friday that its subsidiary Naturgy Solar USA, LLC has acquired Hamel Renewables, LLC for $57 million.

As part of the deal, Naturgy said it has acquired a portfolio that includes eight gigawatt solar projects and has signed a development agreement with energy company Candela Renewables Inc. for the next five years.

The Spanish energy company said it plans to spend up to $1.8 billion in pipeline development and construction.

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(END) Dow Jones Newswires

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