This new ‘road map’ thus accelerates the investment rate foreseen in the company’s previous plan for the 2014-2019 period, which included investments of 4,575 million euros, some 762 million euros annually, compared to 1,200 million euros year for this period. Likewise, Red 2019 calendar Spanish intends with this plan to consolidate its position as reference operator of telecommunications infrastructures, after recently agreeing to acquire satellite operator Hispasat, as well as expand its international business and accelerate innovation in Spain by providing technological services to third parties and contributing to the development of an entrepreneurial environment with the start-up of an accelerator of ‘startups’. The integration of renewables will be the fundamental vector of the investment effort of the electricity system operator, with a budget of 1,538 million euros, 25.5% of total investments.
2019 calendar Spanish
In this way, the company chaired by JordiSevilla indicated that it proposes a balanced business model between the regulated activities and the operations subject to market risk. To do this, businesses will be diversified in a controlled manner, favoring the expansion of operations both in Spain and internationally. In addition, the group will be endowed with a business structure and the capitalization of its various subsidiaries will be reinforced in order to comply with the debt and financial capacity ratios of the new CNMC circular. As a whole, Red Eléctrica de España, as carrier and operator of the electricity system, will invest 3,221 million euros, 53% of the global investment.
To 1,538 million euros to the integration of renewable, will be added 908 million euros to strengthen the reliability of transport networks and security of supply, 560 million euros to expand the technological and digital tools that requires an electrical system with greater proportion of renewable generation and 215 million euros to boost storage programs, specifically the commissioning of the 2019 calendar Spanish plant (Gran Canaria) and the development of batteries in the Balearic Islands and Tenerife. In the rest of the group’s subsidiaries, the investments will be mainly destined to develop the telecommunications chapter and favor international expansion. Thus, Red EléctricaInternacional, present in Chile and Peru, will have a budget of 1,057 million euros, 20% of the investments, to deploy new electric transport infrastructures in different geographical environments, from Spanish, to benefiting the experience of the company as TSO in Spain.