Naturgy (NTGY) begins the construction of its first 300 MW photovoltaic plant in the United States (Texas) (2% renewable target of PE 21-25) where it will invest 264 million euros and will start operating in 2023.

News without impact as it is a reduced amount (1% capitalization) and is in line with what is foreseen in PE 21-25, where Naturgy intends to increase its renewable capacity from the current 5.2 GW to 14 GW in 2025; 1,200 MW would be in the United States for which it has already acquired a 3.5GW portfolio.

Naturgy: Sell (Close €27.66; Target Price €23.60).

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