GASNY - Naturgy to invest up to $1.8B in U.S. after solar deal

Naturgy (GASNY) says it plans to invest as much as $1.8B in the U.S. over the next five years, starting with its acquisition of U.S. solar-energy developer Hamel Renewables in a deal that values the company at $57M.The deal includes an agreement with Candela Renewables to develop Hamel's portfolio, which contains 8 GW of solar projects and 4.6 GW of storage.Naturgy says 25 of the projects, representing 3.2 GW of solar capacity and 2 GW of storage, could be up and running by 2026.Solar stocks have been surging, with many hitting their highest levels in a decade or more, as the Democrats take over the White House and both branches of Congress.

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Naturgy to invest up to $1.8B in U.S. after solar deal