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Enagás to divest 30.2% stake in Tallgrass Energy to Blackstone for $1.1bn to boost renewable investments.

Spanish energy company Enagás is set to divest its 30.2% stake in American energy infrastructure company Tallgrass Energy to Blackstone Infrastructure Partners for around $1.1bn. This move is part of Enagas’ asset rotation process, which aims to focus on decarbonisation and security of supplies in Spain and Europe. The transaction is expected to bolster Enagá’s balance sheet and enable the company to implement its investment plan in renewable hydrogen infrastructure. The Royal Decree-law 8/2023 designates Enagasia as the provisional manager of the Hydrogen Backbone Network. The deal is also expected to have a positive impact on the company’s cash flow statement and support its dividend policy and sustainability.

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