Galp | Press releases

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.

Galp to concentrate refining operations in Sines -

Leading energy companies announce transition principles - <ul> <li> Eight leading energy companies have jointly developed and agreed Principles as a collaborative platform for energy transition. </li> <li> Joint collaborative approach welcomed by investors leading engagement with companies across sector through Climate Action 100+. </li> <li> Principles support collective industry acceleration to contribute to the Paris Agreement objectives by delivering progress on reducing GHG emissions, the role of carbon sinks, and the importance of transparency and alignment on climate change with trade associations. </li> <li> Companies are building further on this collaboration to drive more consistency and transparency in Greenhouse Gas reporting, and in measurement of the emissions which may occur at different points in the value chain. </li> </ul>

Galp raised to “leadership level” on CDP’s annual review of corporate climate-change practices - The Climate Disclosure Project (CDP) ranked Galp as one of the Oil and Gas-processing companies that most-effectively enacted current climate-related best-practices. Galp achieved Leadership level and an “A-” rating, higher than both the European average of “C” and the Oil & Gas processing sector’s “B” average.

Galp strengthens position as Europe’s most sustainable company in its industry, world’s nº3 - <ul><li> Company leads Dow Jones Sustainability Indices in Europe for the third consecutive year in the Oil & Gas Upstream & Integrated sector</li><li>Galp repeats its best position in its nine consecutive years in these indexes, which highlight the best environmental, social and governance practices</li></ul>

Galp agrees GGND stake sale to Allianz Capital Partners - The agreement comprises the sale of 75.01% from Galp’s current 77.5% stake in Galp Gás Natural Distribuição. The agreed price of €368 million for the stake values the whole of GGND at c.€1.2 bn, or c.13x the estimated 2020 Ebitda.

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>

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Press Releases