Galp | Press releases

Galp launches new EI-Energia Independente unit to boost photovoltaic self-consumption - Galp moves one step ahead in its commitment with the energy transition by providing decentralized solar energy rooftop systems. The new EI-Energia Independente unit aims to boost the solar self-consumption market by focusing on the systems’ internal rate of return (TIR) of as much as 25%, which allows for a total investment payback in less than five years. The system’s innovative technological platform identifies each rooftop’s potential and continuously monitors its performance, maximizing the unit’s return.

Galp completes transaction with ACS, becomes Iberia’s leading solar player - <ul> <li>Galp acquired 75.01% of the target solar company, while ACS will keep 24.99%</li> <li>The portfolio comprises a total 2.9 GW of which 914 MW of recently commissioned assets and a pipeline with different stages of development</li> <li>Galp and ACS will continue to jointly identify efficient solutions to maximize the projects generation capacity, exploring the potential of the premium locations</li> </ul>

Galp boosts transition to a sustainable energy future investing in the Energy Impact Partners platform - Galp will invest up to €20 million over the next 5 years in the EIP Platform and join the European coalition to reinforce its commitment to develop a sustainable renewable power generation portfolio and to capture new business opportunities by working with the world best scale-ups. The EIP Platform has over $1.5 billion in assets under management and invests globally across venture, growth, structured credit, and infrastructure. Galp will be the only en-ergy player in Iberia to have full access to the EIP network, which brings together the critical players in the energy transition across power, technology and mobility.

Galp, EDP, Martifer, REN and Vestas assess green-hydrogen industrial cluster in Sines - The project includes a strong international dimension, through the exports markets, but also through partnerships with hydrogen value-chain companies. An initial 10MW electrolysis pilot project may evolve to a 1GW project over the decade.

Galp adjusts investment plan to reduced global energy demand - COVID-19 containment measures sharply cut energy demand. Yearly Capex and Opex cuts of more than €500 million in 2020 and 2021. Adjusted 1st Quarter Ebitda declined to €469 million; adjusted net income fell to €29 million. Capex in line with 1st quarter from a year earlier, at €144 million.

Galp supports fight against COVID-19 in multiple geographies - Direct support to the health systems including ventilators and other medical supplies, mobile test-lab truck, energy to hospitals and fuel to ambulances and other emergency vehicles. Support to the communities included energy to social welfare institutions and organizations, NGOs in Africa and truck-drivers in Spain.

Galp rolls-out measures to help fight COVID-19 - - 29 ventilators offered Portugal’s NHS. Eight to be delivered today - Support to the National Medical Emergency Institute’s (INEM) ambulances and vehicles to collect the samples for diagnostic analyses - Energy support packages to more than 500 Private Social Solidarity Institution (IPSS) - Free media space for nationwide awareness campaign by the DGS

Capital Markets Day: Positioning Galp for the future of energy - Galp embraces the energy transition, maintaining a strong financial discipline and a sustained and profitable growth. Business reorganization with a new client-centered focus and a new division dedicated to renewables and new business models. Adjusted RCA Ebitda rose to €2.4 billion. CFFO totaled €1.9 bn, a 19% increase year-on-year, of which 72% originated outside of the Iberian market. Adjusted net income totaled €560 million and IFRS net income stood at €389 million. Capex of €856 million focused on E&P projects, energy efficiency initiatives at the company’s refineries and at the modernization of the distribution network

Galp becomes largest Iberian solar power player - Galp agreed with the ACS Group to acquire, develop and build solar photovoltaic projects in Spain. Transaction provides access to an installed capacity of 2.9 GW by 2023 .Acquisition accelerates renewables investment strategy, promoting the energy transition

Galp joins the Hydrogen Council and mulls projects to promote hydrogen economy in Portugal - Galp enters global network that brings together Energy, Transportation, Industrial and Finance multinationals with a common vision on hydrogen. Specific projects include hydrogen service-station and green hydrogen production for industry, mobility and grid injection.

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Press Releases