In a challenging year, Endesa experienced significant impacts that led to a 71% decrease in profits. Amidst these challenges, changes in leadership at Enel, the Italian parent company, resulted in a major reshuffle in the board of the Spanish-listed company. These developments brought about new opportunities for renewable projects and partnerships, which were discussed at Endesa’s Shareholders’ Meeting in Madrid.
CEO Jose Bogas highlighted the limitations of Spain’s electrical networks and called for improvements in regulations and elimination of investment caps to support growth and development. He emphasized the importance of aligning with other European countries on public remuneration for these investments to drive economic opportunities such as manufacturing industries and data centers. Endesa’s strategic plan for 2024-2026 includes a significant investment in Networks, Renewables, and Customers, with the possibility of partnering with others in renewable energy projects.
Bogas also addressed challenges posed by the Government’s tax limits, which impacted Endesa’s investment capacity. The composition of the new Endesa Board reflects Enel’s increased control and influence, aiming to rebalance its representation in alignment with its ownership stake.
Overall, Endesa’s strategic direction and future initiatives are closely tied to regulatory frameworks, industry dynamics, and potential partnerships. The company remains focused on driving growth in the renewable energy sector while navigating the evolving landscape of the energy industry in Spain and Italy.