Investment designated for the development of renewable power represents half of the total investment over the three-year period and will enable the addition of 4,400 MW of solar (3,000 MW) and wind (1,400 MW) power to reach a volume of emission-free power of 13,900 MW by 2025 (including 241 MW of battery storage and green hydrogen), 51% more than at the end of 2022.
This means that 91% of the electricity produced in Mainland Spain will be emission-free, compared to the 72% expected at the end of this year. This represents an acceleration along the path towards net zero emissions, without the use of carbon storage technologies, established for 2040.
This plan is beneficial for all our stakeholders:
- Investors, will see the return on invested capital increased by at least 300 basis points.
- Customers, who will be able to reduce the total energy expenditure in their homes by 10% compared to 2022.
- The planet, since emissions from our generation plants will be reduced by 33% in the three-year period.
- Local communities where our investments will be made, in which we will increase their wealth by 9,800 million measured in GDP terms.
- Employees, by continuing with skills enhancement programmes and learning new tasks.
- Suppliers, who we involve in compliance with strict requirements for decarbonisation, occupational safety and regulations with regard to respect for human rights. In fact, 65% of our suppliers already have certification with regard to their carbon footprint, a percentage that we would like to see rise to 75% at the end of the strategic plan.