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Our strategy
Our strategic plan updates our commitment to the energy transition to become a totally emission-free company by 2040.
2023-25 Strategic plan
Growth in renewables and new energy services for customers
The new Strategic Plan 2023-2025, which we presented on 23 November 2022 to the investment community, updates our energy transition strategy with a 15% increase in investment compared to the previous plan: Up to 8,600 million in investment to accelerate decarbonisation and electrification.
These investments will concentrate on the development of renewable energies and on the provision of value-added services and electricity supply from zero-emission sources to domestic and business customers. We are also continuing with our work on the digitalisation of the distribution network in order to enable energy transition.
Renewables
There will be a total of 4,400 MW of renewable power. 91% of the energy generated in mainland Spain will be free of emissions by the end of 2025.
Renewables
There will be a total of 4,400 MW of renewable power. 91% of the energy generated in mainland Spain will be free of emissions by the end of 2025.
Renewables
There will be a total of 4,400 MW of renewable power. 91% of the energy generated in mainland Spain will be free of emissions by the end of 2025.
Electrification of demand
Extension of the offer of energy services of value to customers. The goal: To supply 95% of the energy sold at a fixed price from zero-emission sources.
Electrification of demand
Extension of the offer of energy services of value to customers. The goal: To supply 95% of the energy sold at a fixed price from zero-emission sources.
Electrification of demand
Extension of the offer of energy services of value to customers. The goal: To supply 95% of the energy sold at a fixed price from zero-emission sources.
Digitalisation
€2,600 million for the digitalisation of the grid, to continue improving the quality of service.
Digitalisation
€2,600 million for the digitalisation of the grid, to continue improving the quality of service.
Digitalisation
€2,600 million for the digitalisation of the grid, to continue improving the quality of service.
Sustainable development
90% of planned investment is directly related to the UN Sustainable Development Goals and more than 80% is in line with European Union taxonomy.
Sustainable development
90% of planned investment is directly related to the UN Sustainable Development Goals and more than 80% is in line with European Union taxonomy.
Sustainable development
90% of planned investment is directly related to the UN Sustainable Development Goals and more than 80% is in line with European Union taxonomy.
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.
A strategic milestone in 2040
We will be a totally emission-free company by 2040
We are in line with our parent company Enel in the ambitious goal of bringing forward the complete decarbonisation of our activities to 2040. Our aim is to achieve this on the basis of four lines of action:
The deployment of new renewable capacity that makes all generation activity 100% emission-free (inside and outside the Spanish Mainland).
Hybridisation of renewable installations with green hydrogen storage and production technologies.
Abandoning the coal business by 2027 and the production of electricity using gas by 2040.
Exit from the retail gas marketing business.
The aim of this ambitious objective is to take the greatest industrial reconversion of our almost eight decades of history even further.
