On November 26, 2021, Spanish power company Endesa updated its energy transition strategy for 2022-24, planning to invest 3.1 billion euros (3.4 billion US dollars) to increase its renewable energy production capacity to 12.3 GW. This move will enable the company to achieve carbon-free 92% of its mainland production by the end of 2024. Endesa's goal is to add 4GW of renewable energy capacity during this period. Among them, 90% is solar energy and the remaining 10% is wind energy. This is expected to increase the company's renewable energy production capacity by an average of 1.3GW per year.

The development path of renewable energy in Spain

In addition, Endesa has announced a digital investment allocation to its distribution network to improve its service quality. It will also invest in the establishment of electric vehicle charging infrastructure across Spain through the EndesaX brand. EBITDA (EBITDA) for 2024 is estimated to be 4.7 billion euros, higher than the 4 billion euros at the end of 2021.

Endesa CEO Jose Bogas said: "With this update of our strategic plan, accompanied by a new vision for 2030 and a new key milestone, such as complete decarbonization by 2040, Endesa aims to maintain its top assets in Ibi. Leadership in the Leah market and its successful management as a vertically integrated company.” Together with its parent company Enel, Endesa plans to achieve net zero emissions by 2040, ten years earlier than the original plan. Keywords: engineering construction, engineering news

The company intends to withdraw from its gas-fired power generation and natural gas retail businesses by 2040, focusing on the use of renewable energy for power generation. It is planned to stop coal power generation by 2027. Bogas added: “From 2050 to 2040, our goal of becoming a completely zero-emission company is based on a reliable portfolio of renewable projects totaling 80 GW. The achievement of this key milestone will be accompanied by a firm commitment to consumer electrification, by providing customers and The company creates value to win customer loyalty."Editor/XingWentao