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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.
2022-24 Strategic plan
Growth in renewable energies and promotion of the digitalisation of the electricity grid
The new strategic plan for 2022-2024, which we presented to the investment community on 25 November 2021, updates our energy transition strategy with an investment of €7,500 million to accelerate decarbonisation and digitalisation.
This significant increase in investments focusses on the development of renewable energies and the digitalisation of the grid, as well as on the electrification of residential demand and sectors such as industry and transport.
Renewable Energies
An investment of €3,100 million to ensure that 92% of Spanish mainland production is free of CO2 emissions by the end of 2024.
Digitisation
€2,900 million for the digitalisation of the grid, to improve the quality of service.
Electrification of demand
Investment aimed at developing the electrification of energy use, Endesa X, will increase by 30% to €220 million compared to the previous plan.
Sustainable development
89% of the planned investment is directly related to the UN Sustainable Development Goals.
Sales
We have increased investment in the marketing business by 25% that will reach €500 million during the period.
Provisions for 2030
Endesa has strengthened its provisions for 2030 with a 22% increase in investment to reach €31,000 million
Together with an update to the strategic plan for 2024, we have followed more ambitious criteria to review the provisions for our main business objectives with regard to 2030.
We estimate there will be investment totalling €31,000 between 2021 and 2030, an increase of 22% compared to the provisions for 2030 presented last year.
- 40% of this amount will go to increasing renewable generation capacity up to 24,000 MW, that is 16,000 MW more than those in operation at the close of 2020.
- A further 40% will go to the distribution network, amounting to €12,000 million. With this it is intended to further improve the security and quality of supply, as well as making the network more efficient and flexible.
- The marketing business and Endesa X will take up €4,100 million between now and the end of the decade.
A strategic milestone in 2040
We will be a totally emission-free company by 2040
The climax for this strategic planning for 2024 and 2030 will be Endesa's alignment with the parent company Enel in the ambitious goal of bringing forward to 2040 the full decarbonisation of all its activities. 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.
- Exit from 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.
