Galp | Press releases

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.
Galp creates innovation facility to accelerate energy transition - UP – Upcoming Energies is the name of a collaboration platform which will be launched in the beginning of 2020, based in Lisbon, and which intends to open Galp’s door to the global innovation ecosystem. Galp’s new innovation facility will be focused on the search of solutions for the axes of energy transition, mobility, digital and circular economy.
Galp increases solar power purchases in Spain through long-term contracts with Grenergy - 12-year contracts will add up-to 360 GWh per year additional solar energy to Galp’s portfolio, which now totals more than 650 GWh. That’s enough energy to power more than 200,000 households with savings of more than 430 ktons of CO2 per year. More than half of the electricity commercialized by Galp in 2018 originated in renewable sources.
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