Financial advisor to Hy24 on significant stake acquisition in Enagás Renovable

Client successes
22/03/2022

Hy24 acquired a 30% equity stake in Enagás Renovable thus accelerating the development of renewables-to-gas projects in Spain as well as the achievement of decarbonisation targets.

Hy24 is a clean hydrogen investment platform jointly owned by Ardian, a world leading private investment house, and FiveT Hydrogen, the world’s first pure-play clean-hydrogen private investment manager. The dompany was created to manage the Clean H2 Infra Fund, the world’s largest fund exclusively dedicated to clean hydrogen infrastructure solutions. Clean H2 Infra Fund is supported by key industrial and financial investors active in clean hydrogen.

Crédit Agricole CIB supported Hy24, as a financial advisor, in the acquisition of 30% stake in Enagás Renovable, the largest European platform for renewable-to-gas projects with more than 50 projects throughout Spain in the field of renewable gases and decarbonisation. The incorporation of Hy24 as shareholder will accelerate the development of renewables-to-gas projects in Spain as well as the the achievement of decarbonisation targets set by Enagás, the Spanish Government and the European Union. Hy24 will execute the investment through its Clean H2 Infra fund via a capital increase in Enagás Renovable.

Through this advisory role and the relationship with AGR-AM, the asset manager of Ardian’s renewable portfolio in Iberia and Latin America, the Bank consolidates its relationship with Ardian both globally and locally, and sets the ground for future opportunities.

This landmark transaction offers Crédit Agricole CIB high visibility in the Spanish and European markets as one of the leading advisors in green hydrogen and reinforces the Bank’s track-record in the renewable sector.

Photo of Georg Orssich“We are very honoured to have advised Hy24 on this landmark transaction in the green hydrogen sector. This is an important milestone for the Bank’s hydrogen franchise and it demonstrated our strong capabilities to advise our clients in different aspect of energy transition as well as our strong commitment to green energy.”

Georg Orssich, Senior Regional Officer for Europe (excl. France) and Senior Country Officer for Iberia

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