Jaime Real de Asúa Arteche

Elecnor has two main business lines: infrastructures and concessions. How do these areas of activity work, and how do they contribute to the company’s business volume?

Our business plan is based on these two areas of activity. In fact, the annual shareholders’ meeting has approved the start of the reorganization process of the current corporate structure of the Elecnor Group through the spin-off of the former infrastructure business into the company called Elecnor Servicios y Proyectos. The aim of this operation is none other than the adaption of the group’s corporate structure to the operational reality with which we have been working for years. We are convinced that the new structure will facilitate the management and coordination of the various activities and will help to provide greater visibility for the companies, encouraging orderly growth in all of them. In any case, from the operational point of view, we will continue to function in the same way. Throughout the past two years, both the infrastructure and concession areas have expanded. In 2020, however, the infrastructure sector experienced greater development, as a result of the pandemic. Elecnor is present in more than 50 countries. Therefore, due to the growth underway outside Spain, we adapt to the conditions of every market and preserve solid growth.

Can you elaborate on Elecnor’s expansion process?

We decided to expand our activities into international markets many years ago when we saw that, mainly due to public investment cuts, the business was not delivering the results expected in the local Spanish market. Given that we also had the resources necessary to implant ourselves into other countries, we started expanding into Latin America in the 1960s and gradually moved to other countries. The company first consolidates itself before expanding into other territories. We are currently developing renewable energy projects, specifically wind and photovoltaic solar projects, not only in Spain but around the world. This activity is a must for the company, and we aim to continue with its development. At the moment, we have both investment and constructions projects underway. For instance, in Australia, there are projects for the construction of power lines, but under EPC scheme. Meanwhile, in Brazil, Chile, and Peru, we are also working on projects involving investments.

How can Elecnor contribute to the UN’s 2030 Sustainable Development Goals?

Public organizations are extremely optimistic in terms of energy transition, especially when talking about renewable energy. However, this trend should not lead us to take hasty decisions. We cannot do away with traditional energy sources immediately. Instead, we must make a gradual transition to new energy sources. That said, we are fully committed to the transition to renewable energies. In fact, we have a subsidiary entirely dedicated to renewable energies, mainly wind power, as well as photovoltaic and we have been involved for years in projects for solar thermal power plants, combined cycle, thermal and hydroelectric power plants, and biomass plants. We are currently working on several projects for the adaptation of electricity consumption for town councils. By the end of 2020, we issued bonds with Banco Sabadell at a value of EUR50 million for sustainable energy projects. It is a huge project called Clime, in Castile-La Mancha, and its aim is to achieve energy efficiency.

What are Elecnor’s objectives?

Elecnor’s main objective is to contribute to economic and technological progress, social welfare, and the sustainable development of the markets in which it operates. Elecnor seeks to be sustainable and is committed to ESG principles: protecting the environment and taking care of our people and everything this involves. We must be able to develop our activity every day, efficiently and protected from the risk of contagion. The presence of COVID-19 will require us to give the best of ourselves in order to continue to move forward and conquer the future as we have always done throughout our 62-year history.