Red Eléctrica de España

Red Eléctrica de España (Spanish pronunciation: [reð eˈlektɾika ðe esˈpaɲa]) is a partly state-owned and public limited Spanish corporation which operates the national electricity grid in Spain, where it operates the national power transmission system. It also holds assets in Portugal, Peru and Bolivia.

History

The company was created in 1985 by the Spanish Government-owned holding company Instituto Nacional de Industria to provide a unified national power grid. Up to 20% of Red Eléctrica is controlled by the state-owned holding company Sociedad Estatal de Participaciones Industriales (SEPI), with the remainder being free float on the Bolsa de Madrid.

Sell-offs

The firm was also formerly active in telecommunications, but in 2005 sold its unit Albura (and with it access to a 7,500 km network of optical fibre) to Deutsche Telekom unit T-Online for €61.5 million.

Acquisitions

The company owns 5% of Portuguese counterpart Redes Energéticas Nacionais, with which it holds a strategic alliance.