Endesa, since 1944
Endesa was founded on 18 November 1944 and one year later work began on the construction of the Compostilla thermal power plant, which was inaugurated in 1957.
In 1972, the company merged with Hidrogalicia and in the following decade it purchased various mining facilities, among which As Pontes (La Coruña) and Andorra (Teruel). Endesa began operation of the thermal plants of As Pontes (La Coruña), Andorra and Escatrón (Teruel and Zaragoza) and Litoral (Almeria), as well as the diesel-fired power plants of Ceuta and Melilla and the Ascó II nuclear power plant in Tarragona.
The Endesa Group was established in 1983 with the acquisition of the shares, which, at the time, the National Institute of Industry (INI) held in the Enher, Gesa, Unelco and Encasur companies. That same year, ERZ joined the Endesa Group.
In 1988, the first public tender offer for Endesa shares was launched. The Spanish government reduced its holding in the company to 75.6 percent.
Endesa was first listed on the New York Stock Exchange.
The 90s: growth and development
In 1991 Endesa acquired 87.6% of Electra de Viesgo, 40% of Fecsa, 33.5% of Sevillana de Electricidad and 24.9% of Nansa.
One year later Endesa purchased 61.9% of Carboex and acquired a stake in Electricidad de Argentina and Yacylec.
In 1993, it acquired 55% of the company Hidroeléctrica de Cataluña (Hecsa) and went on to purchase a stake in the Portuguese company Tejo Energía.
In 1994, a second public tender offer was launched. As a result of this transaction, the Spanish government reduced its stake in Endesa to 66.89%. During the year, Compañía Peruana de Electricidad y Distrilima was established with the participation of Endesa. Endesa also acquired 11.78% of the share capital of Sociedad General de Aguas de Barcelona (Agbar).
In 1995, an agreement was reached between Endesa and Banco Central Hispano and 9.7% of the share capital of the Argentinian electricity distributor Edenor was acquired, together with 7.2% of the second largest mobile telephone operator in Spain, Airtel.
In 1996, Endesa increased its stake in Fecsa y Sevillana de Electricidad to 75%.
In 1997, the consortium led by Endesa was awarded the contract for the second landline telephone operator in Spain, Retevisión. The third public tender offer was also launched for 25% of Endesa's share capital through which Endesa acquired a stake in the Latin American group Enersis.
In 1998, a public offering for 33% of Endesa’s share capital was launched, making it a private company.
2000-2008 Nueva estrategia empresarial
Endesa inaugurated the third millennium with a new corporate strategy, focusing on creating value. This led to the rejection of the merger with Iberdrola. Subsequently, with the best score among companies in the industry, we were selected for inclusion in the Dow Jones Sustainability World Index (DJSI World), which includes the 300 leading companies from 23 countries that stand out for their commitment to sustainable investment practices. At the same time, Endesa renewed its presence in the European Dow Jones Stoxx Sustainability Index (DJSI Stoxx).
In 2002, Endesa created the figure of Customer Advocate. Together with the Portuguese company Sonae, it established a joint public-private company to sell electricity in Portugal.
In 2003, Endesa’s Board of Directors approved the Internal Regulations on Conduct in Securities Markets.
In 2005, Gas Natural launched a hostile public tender offer for the entire share capital of Endesa.
On 21 February 2006, the German company E.ON presented a public tender offer to acquire the entire share capital of Endesa. On 26 September, Acciona acquired 10% of Endesa’s share capital. On 16 November, the National Securities Market Commission (CNMV) authorised E.ON’s public tender offer for 100% of Endesa’s share capital.
In 2007, there were a series of key transactions involving Endesa's share capital:
- January 10: Acciona informed the CNMV that its total stake in Endesa’s share capital amounted to 23.03%.
- January 26: The acceptance period for E.ON’s public tender offer began for 100% of Endesa’s share capital.
- February 1: Gas Natural withdrew its public tender offer for 100% of Endesa’s share capital.
- February 27: Enel acquired a 9.993% stake in Endesa’s share capital.
- March 12: Enel confirmed that the total number of Endesa shares it held through equity swaps amounted to 14.98%, taking its direct and indirect stake in the Company to 24.973%.
- April 10: E.ON withdrew its public tender offer as it was accepted only by 6.01% of shareholders and did not renounce the condition of its offer being accepted by at least 50.01% of Endesa’s share capital.
- October 5: The National Securities Market Commission announced the result of the takeover bid launched by Acciona, S.A. and Enel Energy Europe for Endesa.
- October 18: Endesa’s Board of Directors signed the necessary agreements following Acciona and Enel's successful public tender offer.
On 27 March 2008, Enel and Acciona reached an agreement with E.On on the value of the assets to be transferred to the latter as a result of the agreement signed in April 2007 by the aforementioned companies. The value amounted to €11,500 million.
Endesa combating climate change
On March 24th, Borja Prado Eulate was appointed chairman of the company.
Enel reached an agreement with Acciona for the purchase of all the shares held by the latter in Endesa. Enel thus became Endesa’s majority shareholder, with 92.06% of the share capital.
During that same year, Endesa launched a pioneering energy efficiency project as a new energy management model for cities: Smartcity. This project is a cornerstone of the company’s commitments and efforts to combat climate change, as outlined in the 2008-2012 Strategic Sustainability Plan, presented in 2009.
2010 Electric vehicule and renewable energies
In 2009, Endesa participated in the Spanish consortium for the development of the electric car Cenit Verde. It was also the only Spanish company that participated in the European G4V project to assess the large-scale impact of electric cars.
As part of its commitment to electric mobility, Endesa signed agreements with a number of car manufacturers, including Renault, Nissan and Bergé Automoción. Together with Enel, Endesa joined the Japanese association CHAdeMO to promote the implementation of fast-charging stations for electric vehicles at a global level.
On March 17th, the Board of Directors of Endesa and Enel SpA agreed to merge the activities of Endesa and Enel Green Power SpA (EGP) in the field of renewable energies in Spain and Portugal into a single company, within the scope of EGP, a company controlled 100% by Enel SpA.
In Malaga, Endesa installed the first smart meters for households in Spain. In addition, it began work in Asturias for the construction of a CO2 capture plant using limestone.
On July 1st, Endesa sold its electricity transmission assets to Red Eléctrica de España for €1,412 million.
On September 24th, Endesa agreed to sell 80% of its investment in the subsidiary that pools together gas transport and distribution assets, maintaining a purchase option over the sold stake.
2011 Eficiencia energética e innovación
Enel Green Power, a company of which Endesa holds a 40% stake, inaugurated three wind farms in Spain with a total capacity of 96 MW and a 10 MW wind farm in Portugal.
Endesa’s Smartcity project in Malaga received two awards in the European Smart Metering Awards, which rewards innovation and achievements of companies in the electricity industry involved in the deployment of remote management.
Together with Cepsa, Philips Ibérica, Renfe, Sol Meliá, Telefónica, Toyota España and Unibail Roddamco España, Endesa went on to join the Platform for Energy Efficiency to promote efficiency and energy saving:,.
Furthermore, Endesa eas the first company in Spain to achieve the triple certificate in Energy Efficiency (UNE-EN 16.001), Environmental Management (ISO 14.001) and Indoor Air Quality (UNE 171330-3) for its corporate headquarters in Madrid, recognising its total commitment to environmental protection.
In February, the company opened its first in-store customer service offices in Portugal to provide sales and customer services.
2012-actualidad Nueva marca Endesa
In 2013, Endesa became the leader in remote management in Spain, with over three million remote meters installed. That year, the company topped the Dow Jones Sustainability Index in Occupational Health and Safety and received the carbon footprint certificate from AENOR.
In 2014, in order to improve our service for our customers, Endesa launched the industry’s first 100% online electricity and gas service: Endesa One.
In October 2014, Enersis S.A. acquired a 60.62% stake in the company. After the approval of the transaction by the Extraordinary Shareholders’ Meeting held on 21 October, Endesa transferred its 100% stake in Endesa Latinoamérica, S.A. to Enel Energy Europe, S.R.L. (currently Enel Iberoamérica, S.R.L.), a company which is wholly owned by Enel SpA., (a company that holds 40.32% of the share capital of Enersis S.A.) and 20.3% of its stake in Enersis S.A., held by Endesa S.A., for the total sum of €8,252.9 million.
In November there was a public tender offer for shares in Endesa by Enel Energy Europe. Enel Energy Europe, S.r.l. (currently Enel Iberoamérica, S.R.L.), which is wholly owned by Enel S.p.A. and the majority shareholder of Endesa (with a 92.063% interest), agreed to launch a public tender offer of part of the shares in Endesa owned by Enel Energy, to be offered to retail and qualified investors.
The total number of shares included in the offer ultimately amounted to 232,070,000 shares, representing 21.92% of Endesa’s share capital, equivalent to €3,132,945,000. Enel’s interest in Endesa now amounts to 70.14%.
Endesa’s chairman, Borja Prado, took office as President of the Endesa Foundation in 2015.
In 2016, the Endesa brand was renewed with a new logo called “Open Power”, which embodies the values and culture of the Enel Group. This new strategic shift aims to accelerate ENDESA’s opening toward society as a whole and to allow it to tackle new challenges more effectively.
In July, the company acquired 60% of Enel Green Power, the fourth largest operator in the Spanish renewables industry, in which Endesa already held a 40% interest.