If you prefer to always view the website in English, please click here.
Our strategy
Our strategic plan reinforces our commitment to clean electrification. Indeed, we aim to become a fully emissions-free company by 2040 with an unprecedented investment effort.
2025-27 Strategic plan
Increased investment to address energy transition challenges
On 19 November 2024, we presented our new 2025–2027 Strategic Plan to the investor community. The plan outlines an 8% global increase in investment, reaching €9.6 billion, which marks a milestone for the company.
Our goal for the coming years is to fully seize the opportunities and tackle the challenges of the energy transition while adapting to the ambitious electrification targets set by Spain’s National Integrated Energy and Climate Plan (NECP) for 2030.
At the core of our plan lies the promotion of clean electrification, rooted in emissions-free generation sources. This will achieve a competitive energy system for customers, making it more secure by reducing external energy dependency and sustainable by decreasing GHG emissions.
Distribution networks
It is the backbone of the energy transition. Investment in the electricity grid will rise to €4 billion, a 45% increase compared to the previous 2024–2026 plan. However, this investment plan is still pending regulatory improvements and updates.
Distribution networks
It is the backbone of the energy transition. Investment in the electricity grid will rise to €4 billion, a 45% increase compared to the previous 2024–2026 plan. However, this investment plan is still pending regulatory improvements and updates.
Distribution networks
It is the backbone of the energy transition. Investment in the electricity grid will rise to €4 billion, a 45% increase compared to the previous 2024–2026 plan. However, this investment plan is still pending regulatory improvements and updates.
Renewables
The generation business is another key pillar of the strategic plan. The €3.7 billion investment in renewable energy will help us refocus by reducing spending in the solar business while strengthening wind and hydropower.
Renewables
The generation business is another key pillar of the strategic plan. The €3.7 billion investment in renewable energy will help us refocus by reducing spending in the solar business while strengthening wind and hydropower.
Renewables
The generation business is another key pillar of the strategic plan. The €3.7 billion investment in renewable energy will help us refocus by reducing spending in the solar business while strengthening wind and hydropower.
Supply
Our focus is on customers, promoting the electrification of their energy usage. We aim to grow our free-market customer portfolio to 7.1 million by the end of the period while enhancing loyalty among high-value customers.
Supply
Our focus is on customers, promoting the electrification of their energy usage. We aim to grow our free-market customer portfolio to 7.1 million by the end of the period while enhancing loyalty among high-value customers.
Supply
Our focus is on customers, promoting the electrification of their energy usage. We aim to grow our free-market customer portfolio to 7.1 million by the end of the period while enhancing loyalty among high-value customers.
Reinforcing the Net Zero goal by 2040
This strategic review across the three core business pillars is accompanied by a transversal commitment to environmental sustainability.
Our goal of achieving net-zero emissions by 2040 remains steadfast. This includes 100% renewable energy generation and sales, alongside phasing out retail gas sales as customers increasingly transition to electrification.
CO2 emissions will have decreased by 65% by the end of 2024 compared to 2017 levels, with a projected 74% reduction by 2030.
