Jose Damian Bogas Galvez

Endesa was established in 1944 within INI with the aim of becoming the leading company in the energy sector in Spain. What are Endesa’s values, and how has the company evolved over the years?

Endesa has been at the forefront of the electricity sector in Spain for 77 years. Since its creation in 1944 to date, the company has been a protagonist in the development of the energy sector, betting from the first moment on innovation and the development of the regions in which it operates. These values marked the company since its inception and continue to do so now, when the sector undergoes an unprecedented transformation with two protagonists: decarbonization and digitization. We were born with coal, which helped the economic development of Spain for decades, but now we live in a completely different world. Endesa, the leader in the electricity market in Spain, has made clear its commitment to decarbonization, which has its best ally in the electrification of the economy, and has been committed to promoting renewable energies for years. Approximately 85% of Endesa’s peninsular energy production is now emissions free, a figure that will reach 90% by 2023. We are in a new era of energy, more open, participatory and digital, in which sustainability must mark the way of acting of the company in all its areas. Endesa is convinced this is the way forward, and we make every effort to achieve it.

Endesa announced in 2021 a 22% increase in the volume of projects submitted to the European funds. What are the main activities to which these funds would be used?

The Recovery, Transformation, and Resilience Funds represent a unique opportunity to accelerate the transformation of the Spanish economy and recover from the enormous blow caused by the pandemic. Among the 122 projects presented by Endesa with an associated investment of EUR23.3 billion are projects for the development of smart grids, the promotion of renewables, sustainable transport, renewable hydrogen, the rehabilitation of buildings, and the improvement of efficiency. There are also programs on storage and flexibility and the development of the circular economy, mainly recycling shovels and batteries. It is a powerful battery of projects marked by innovation that would significantly help the recovery of the Spanish economy, with the creation of 214,000 jobs and estimated emission reductions of 13.6 million tons of CO2 per year if they go ahead in their entirety.

Endesa has shown a firm commitment to the UN’s SGDs set out in the 2030 Agenda. What goals has Endesa set in this area within its 2021-2023 strategic plan?

Endesa’s strategy is fully aligned with the goal of achieving a 100% decarbonized economy by 2050, in line with the European objectives to combat climate change. In this sense, our strategic plan for the period 2021-2023, which provides for an investment of EUR7.9 billion, focuses on promoting renewable energies and digitization to accelerate the energy transition and decarbonization. In these three years, we will increase our renewable generation park by 50%, with an investment of EUR3,300 million, and we will give a definitive boost to the digitization of the electricity grid with investments of EUR2,600 million. We will continue to bet on the electrification of demand and the promotion of sustainable mobility with the forecast of deploying 56,000 charging points for electric vehicles by the end of 2023.

The energy sector is immersed in a paradigm shift due to COVID-19, with digitalization being one of its pillars. What main challenges has Endesa had to face in this regard?

The pandemic has accelerated the digitalization of the economy. The most digitalized companies are the ones that have been best able to cope with the pandemic. Those that did not bet on it have surrendered to the fact that without digitalization there is no future, while those that were already convinced of its virtues, like Endesa, have only more than doubled their commitment to digitalization. The digitization of the customer relationship and asset management has allowed Endesa to successfully cope with the extraordinary conditions generated by COVID-19 and contribute to guaranteeing the electricity supply, customer service, and even remote work of a solid part of our staff in the best conditions.

What are your main objectives for 2021?

After a complex start to the year still marked by the pandemic, we hope the situation will gradually normalize. 2021 is a decisive year to begin the recovery of the economy. Endesa will continue to bet on digitalization, decarbonization, and sustainable growth. We are determined to be one of the engines of this economic take-off after the pandemic, and for this we will deploy a significant investment effort to continue advancing. We will do so in compliance with our model of just energy transition, in which no one is left behind.