Press Releases - List

Galp enters the Brazilian renewables business with the acquisition of 594 MWp solar capacity - G Galp agreed to acquire and develop solar projects in Brazil with a combined capacity of 594 MWp, moving forward with its renewable expansion ambitions and taking an important leap in its drive to reshape its portfolio and lower its carbon footprint. The acquisition comprises two solar projects under development in the Bahia and Rio Grande do Norte States, with capacities of 282 MWp and 312 MWp, respectively. With these transactions, Galp gains access to high-quality assets in a country where the Company is present for more than 20 years and which is within the top 10 countries in the world with the highest power demand and aiming to double its current solar & wind installed capacity to 40 GW by 2030. The projects are set to reach its Commercial Operation Date before 2025. These agreements are part of Galp’s strategy to grow a competitive renewable generation portfolio and to thrive through the energy transition and are fully aligned with the capital allocation guidelines and geography diversification plans presented at its June Capital Markets Day. With this portfolio addition, Galp’s total gross renewable generation capacity increases to c.4.7 GW spread through Portugal, Spain and now Brazil, another step forward towards the Company’s ambition to have over 4 GW and 12 GW gross operating capacity by 2025 and 2030, respectively.

Galp signs Manifesto to speed-up Green Hydrogen deployment and expansion in Europe - <ul> <li>Parties define 12 actions that national and European decision-makers should take to accelerate the development of Green Hydrogen in Europe</li> <li>Manifesto is supported by more than 80 companies involved in renewable hydrogen projects throughout the continent</li> <li>Galp is studying the development of a large green energy park in Sines that has production of hydrogen from renewable sources as its centerpiece</li> </ul> Galp yesterday became one of the more than 80 signatories of the Green Hydrogen Manifesto, which defines a set of 12 actions that national and European policymakers should take for Europe to remain at the forefront of hydrogen production projects powered by renewable energy sources. The Manifesto was announced at Smarter E Europe 2021's Green Hydrogen Forum, which closes this Friday in Munich. Its promoters are Hydrogen Europe, the German Hydrogen Association (DWV), The Smarter E, and the European Fuel Cell and Electrolyser Forum (EFCF). The measures advocated by the signatories include the definition of rules to evaluate and compare the various types of hydrogen according to their CO2 emissions or their geographical origin, sustainability criteria, and certification. The manifesto calls for measures to reduce costs for final consumers and to promote investments in industrial equipment conversion. The takeoff of green hydrogen also requires the adoption of specific market regulations, balanced ways to define market prices, and support for the creation of national distribution networks, among other measures.  Galp aims to build a green energy park capable of attracting industries whose competitiveness depends on access to clean and diversified energy sources, benefiting from the abundance of renewable energy sources in Portugal, namely wind and photovoltaic energy. The centerpiece of this project is the gradual installation of electrolysis capacity over the next few years at its Sines site, which should reach 100 MW in 2025 and between 600 MW and 1 GW in 2030. Green hydrogen is key to the decarbonization of the refining process, industrial processed and heavy-duty road transport, but also to feed new production chains for synthetic clean aviation and marine fuels. <a href="https://www.thesmartere.de/media/doc/615ae682045d375ff42c0a12" target="_blank">Read the original Manifesto here</a>.

Galp reinforces electric mobility leadership in Portugal through the acquisition of Mobiletric - <ul> <li>Transaction to expand Galp's electric charging network by 280 points in the short term</li> <li>Galp strengthens its ambition to have 10,000 charging points in operation in the Iberian Peninsula by the end of 2025</li> </ul>

Galp maintains top distinction in the MSCI ESG Ratings sustainability index - For the 4th consecutive year, Galp was rated by MSCI ESG Ratings a triple-A (AAA) global leadership position in the integrated Oil & Gas sector, maintaining its position amongst the top 3 companies with the best environmental, social and governance (ESG) performances. This is the highest score from Morgan Stanley Capital International (MSCI) ratings. Galp reinforces its position as a leader in the capacity of managing sector specific ESG risks, with special emphasis on the Biodiversity & Land Use, Carbon Emissions and Community Relations criteria. As an efficient and competitive integrated energy operator that develops profitable and sustainable businesses in an ethical and responsible manner, Galp is strongly committed to the best ESG practices and to create sustainable value for all its stakeholders. MSCI ESG Rating is designed to measure a company’s resilience to long-term industry material ESG risks. MSCI ESG Ratings range from leader (AAA, AA), average (A, BBB, BB) to laggard (B, CCC).

Second-quarter and first-half 2021 results - Galp today presented its 2Q21 and 1H21 results.

Galp is the first Portuguese company to join the World Economic Forum's ESG metrics - <ul> <li>Galp joins the World Economic Forum business community aligned with the creation of sustainable value through a set of ESG metrics</li> <li>World Economic Forum's ESG metrics promote the “stakeholder capitalism” through con-cise, consistent and comparable information, in order to create value shared by all stake-holders and put the economy at the service of communities</li> </ul>

Final investment decision for Bacalhau phase 1 in Brazil - Equinor (operator) and ExxonMobil, Petrogal Brasil and Pré-sal Petróleo SA (PPSA) have decided to develop phase one of the Bacalhau field in the Brazilian pre-salt Santos area. The investment is approximately 8 billion USD.

Galp starts building its first large-scale solar PV project in Portugal - 144 MW project in Alcoutim awarded to a consortium formed by Jayme da Costa and Visabeira is expected to start operating in the first quarter of next year. Galp, currently the 3rd largest Iberian producer of electricity from solar energy, currently has more than 900 megawatts in operation. Project comprises four photovoltaic plants in that Southern-Portugal municipality. Estimated annual production of 250,000 MWh of electricity will supply more than 80,000 homes and avoid the emission of 75,000 tons of CO2.

Galp’s 2020 earnings show pandemic’s impact and progress in transformational projects - Galp's 2020 results reflect the unprecedented challenges created by the Covid-19 global pandemic and the measures taken to address it. The figures also show that, despite the adverse context, Galp continued to promote the projects that are transforming it into a more sustainable company, namely the acquisition of solar energy projects in Spain – which turned Galp into the largest Iberian producer of photovoltaic energy – and the adaptation of our refining system to the transformation of the global energy industry.

CEO Carlos Gomes da Silva to step down and be succeeded by Andy Brown - Galp informs that Carlos Gomes da Silva has decided to step down as Vice-Chairman of the Board of Directors (Board) and Chairman of the Executive Committee (CEO) of Galp.

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