Redeia has taken a significant step forward in its commitment to modernizing and strengthening Spain’s electric transmission network. In the first half of 2025, the group allocated €564.2 million to this effort, representing a 33.9% increase compared to the same period last year and a 41% rise in network development investments, reaching €517 million versus €366.7 million in 2024.
This investment effort is part of the roadmap approved earlier this year, which sets an ambitious goal of exceeding €1.4 billion in investments before the end of 2025, a record high for the company.
Ongoing Strategic Projects
During the first semester, Redeia advanced several key infrastructures outlined in the national electrical planning, including:
- Spain–France Interconnection via the Bay of Biscay: significant progress on land-based segments.
- Submarine Links between Tenerife–La Gomera and the Península–Ceuta: cable laying commenced this summer.
- Baleares Power Supply Enhancement: commissioning of the southern Ibiza corridor.
- Peninsular Network Reinforcement: activation of the Calera and Chozas substation (Toledo), vital for industry and rail transport.
Industrial developments include the inauguration of the Abrera substation (Barcelona), expansion of Espartal (Zaragoza), and the completion of the first phase of Saguntum 220 kV substation. Additionally, in the Canary Islands, construction continues on the reversible pump storage plant Salto de Chira, key for renewable energy storage.
Growth in Revenue and Financial Strength
Investments have boosted the group’s revenue to €843.3 million, a 2.2% increase from the first half of 2024. Breakdown by business area:
- Domestic electrical infrastructure: €714.9 million (+3.4%).
- International transmission: €72.2 million.
- Optical fiber: €74.5 million.
EBITDA reached €636 million (+2.8%), and EBIT stood at €416.2 million (+3.7%). Net profit remained steady at €269.5 million, up 1.5% on continued operations.
Net financial debt totaled €5,539.4 million, rising by €169.6 million due to high investment activity, partly offset by cash generation and grants, such as €21 million obtained through the France interconnection project.
Sustainability Commitment and ESG Targets
Redeia has increased the share of its debt linked to sustainability criteria to 80%, surpassing the 60% target set for 2025. The goal for 2030 is to reach 100%.
Furthermore, the company advances its Comprehensive Impact Strategy (EIIR), having already launched 239 initiatives across Spain and Latin America worth €17 million, aimed at social, economic, and environmental development in local territories.
A Key Role in the Energy Transition
As the operator of Spain’s electricity system, Redeia plays a pivotal role in decarbonizing the economy, integrating renewables, and electrifying industry. The expansion and modernization of the network not only enhance supply security but also lay the groundwork for the deployment of new industries such as energy storage, green hydrogen, and high-power data centers.
Frequently Asked Questions (FAQ)
1. What is Redeia’s investment target for 2025?
The aim is to surpass €1.4 billion in investments by year-end, marking the highest in the company’s history.
2. What interconnection projects are underway?
Current projects include the Spain–France submarine link via the Bay of Biscay, and the Tenerife–La Gomera and Península–Ceuta connections.
3. What percentage of Redeia’s debt is sustainable?
Eighty percent of its net financial debt is linked to ESG criteria, with a goal of reaching 100% by 2030.
4. How do these investments support the energy transition?
They enable the integration of renewables, improve grid resilience, and prepare infrastructure for new demands like transportation and industrial electrification.
via: redeia