Basque government buys 1% of Enagás in first Indartuz investment
What's the deal? The Basque government has acquired a 1% stake in Spanish gas grid operator EnagásDealroom has a profile for this one. Try Dealroom → through its financial arm, the Instituto Vasco de FinanzasDealroom has a profile for this one. Try Dealroom → (IVF). The purchase was executed via Indartuz, an investment vehicle created under the Plan Euskadi Eraldatuz 2030. The government did not disclose the amount invested.
Why now? The move marks Indartuz's first direct investment. The government called it "una inversión estratégica en un activo fundamental en la autonomía energética y en la seguridad de suministro de energía."
What's the endgame? Enagás operates infrastructure that the government described as critical "para el funcionamiento del sistema energético y para la garantía de suministro en Euskadi." The company is set to play a central role in Spain's green hydrogen backbone and the H2Med corridor, the trans-European initiative linking the Iberian Peninsula's hydrogen network to northwest Europe.
Enagás and the Basque government also jointly lead the "Hub COnet2" project, aimed at decarbonising hard-to-abate industrial sectors in line with EU CO2 reduction targets. Both the hydrogen backbone and Hub COnet2 hold European Project of Common Interest (PCI) status.
The signal: The deal fits the Plan Euskadi Eraldatuz 2030 and Plan de Industria — Euskadi 2030 strategy of investing in future infrastructure. It serves a dual purpose: reinforcing regional energy security through established assets, while positioning Euskadi in the transport of Iberian green hydrogen and carbon dioxide, renewable fuels, and new energy value chains.
Read more: Noticias de Gipuzkoa
