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MarketScreener Homepage  >  Equities  >  Bolsas y Mercados Espanoles  >  Naturgy Energy Group, S.A.    NTGY   ES0116870314

NATURGY ENERGY GROUP, S.A.

(NTGY)
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Naturgy Energy S A : LONGi supplies 101 MW bifacial modules for an ultra-large power plant in Chile

10/21/2020 | 11:53am EST

World leading solar technology company LONGi announced that it has delivered 101MW reliable and high-efficient bifacial modules to an ultra-large power plant in Chile.

The 101 MW photovoltaic (PV) project, located at a high altitude in the region of Antofagasta, was developed by Global Power Generation (GPG), a subsidiary of Spain'sNaturgy Energy Group SA.

With 234696 pieces of LONGi bifacial modules, and 2829 units of SF7 bifacial trackers from Soltec Renewable Energies, the 101 MW PV power plant will be operating in November 2020. To date, LONGi has manufactured all the modules in the overall contract and delivered them to the project developer GPG.

Founded on January 28, 1843 and headquartered in Madrid, Spain, Naturgy Energy Group is the largest integrated gas and electricity company in Spain and Latin America. As a super-national enterprise, it has nearly 19 million supply sites in more than 20 countries.

LONGi signed the module supply contract with Naturgy Energy Group in October 2019. The conclusion of this contract marks a 'major breakthrough' and the 'beginning of a new era' in the development of the PV markets in South America for both parties.

Pedro Serrano, Chief business development Officer of Global Power Generation (GPG), said, 'We're glad to partner with LONGi and are very happy to deploy LONGi's leading solar modules to build many PV plants in South America that will benefit the people of the region. We hope to conduct more business with LONGi to help the government of Chile upgrade its grid infrastructure and build more top-notch PV plants.'

Dennis She, Senior Vice President of LONGi Solar, said, 'The cooperation between LONGi and Naturgy will inject new momentum into the development of PV industry in South America. LONGi is always willing to work with companies around the world that share the same corporate vision and philosophy. With our scale and strengths, we hope to contribute to help the world propel the transformation of the energy mix, and guarantee the earth a sustainable, promising future.'

About LONGi

LONGi leads the solar PV industry to new heights with product innovations and optimized power-cost ratio via its breakthrough monocrystalline technologies. LONGi supplies more than 30GW of high-efficiency solar wafers and modules worldwide each year, about a quarter of global market demand. With innovation and sustainable development two of its core values, the company is recognized as the world's most valuable solar technology company with the highest market value.

About Global Power Generation (GPG)

Global Power Generation (GPG) is the Naturgy Energy Group's subsidiary dedicated to international power generation, which is 25% owned by the Kuwait Investment Authority (KIA), the oldest sovereign fund in the world. KIA's interest in GPG is managed by the KIA's direct infrastructure platform, Wren House Infrastructure Management. GPG manages a total installed capacity of 4,100 MW and employs around 800 people worldwide.

Contact:

Tel: +86-21-8016 2606

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2020 19 804 M 23 734 M 23 734 M
Net income 2020 930 M 1 114 M 1 114 M
Net Debt 2020 15 634 M 18 735 M 18 735 M
P/E ratio 2020 21,1x
Yield 2020 7,23%
Capitalization 19 132 M 22 875 M 22 928 M
EV / Sales 2020 1,76x
EV / Sales 2021 1,57x
Nbr of Employees 10 799
Free-Float 26,9%
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Average target price 19,52 €
Last Close Price 19,91 €
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Francisco Miguel Reynés Massanet Chairman & Chief Executive Officer
Carlos Javier Álvarez Fernández Chief Financial Officer
Ramón Adell Ramón Independent Director
Francisco Belil Creixell Independent Director
Helena Herrero Starkie Independent Director
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