By Giulia Petroni


Naturgy Energy Group SA on Thursday unveiled a plan to reorganize its businesses into two large listed groups in order boost its role in the energy transition.

The Spanish energy company said the project, called "Gemini," entails splitting its current businesses into two groups that would maintain the current shareholder composition but have different business profiles.

One group will comprise all the liberalized businesses with a focus on the energy transition, including conventional generation, renewable energies, the energy customers portfolio and wholesale energy markets.

The other will instead be focused on the management of regulated energy distribution and transmission infrastructures, according to Naturgy.

"The two clearly differentiated business profiles will allow, among other things, to simplify and focus the management of each of these groups to accelerate the strategic plan, boosting growth and their contribution to the energy transition," the company said.

Naturgy said it should be able to execute Gemini during the current year. The project is subject to final approval at the general shareholders' meeting that will be held on March 15.


Write to Giulia Petroni at giulia.petroni@wsj.com


(END) Dow Jones Newswires

02-10-22 1158ET