Red Eléctrica allocates 6,000 million to its new strategic plan | Economy

The strategic plan of Red Eléctrica plans to invest 6,000 million in the 2018-2022 period, which represents an increase of almost 1,500 million over the previous plan 2014-2019, as approved yesterday by the board of directors, which will be joined by José Juan Ruiz (former chief of Pedro's Cabinet Solbes and former CEO of Banco Santander, among other positions) replacing José Luis Feito.

The objective is to facilitate the energy transition, consolidate its position as an operator of telecommunications infrastructures, expand the international business and accelerate the innovation of technological services through the start-up of an accelerator of start-ups. In addition, it will reinforce the capitalization structure of its various subsidiaries to comply with the debt ratios of the CNMC, as explained yesterday by the company's president, Jordi Sevilla, who has kept the rest of the forecasts to present them to the analysts today.

The company proposes a balanced business model between regulated activities and operations subject to market risk. To do this, businesses will be diversified in a controlled manner, favoring expansion in Spain as well as in the international arena, which includes entry into new countries (operates in Chile and Peru), which will take an investment of 1,057 million, and the purchase of Hispasat, for 949 million. Part of this investment is integrated into the renewable energy package, which will take 1,538 million, 25.5% of the total, and 53% (3,221 million) that goes to the network and transport.


Source link