On 24 February, after a thorough process of reflection, the Board of Directors approved the 2014-2019 Strategic Plan that sets the strategic lines that will pave the way for the Company’s strategy in the coming years.
Business Strategy and Development Directorate
This new plan is based on the development of Red Eléctrica as TSO in Spain, adapting the company to the new regulatory and remuneration framework, and preparing to meet the new challenges that they pose. The plan also embraces a greater range of other businesses related to already established activities, such as the management of the optical fibre network, and an expansion of the business base coming from energy storage and international investment.
In any case, the main strategy of the Company is still to continue consolidating our role as Spanish TSO, with investments of €3.2 billion that will be focused on the development of an increasingly meshed, robust and better interconnected transmission grid.
This development will take place in the context of a new remuneration model that defines a more demanding scenario, with a compelling need for the achievement of operational and financial efficiencies. This approach means developing a management and business culture that allows us to embrace efficiency as a key factor in our competitiveness.
Additionally, the new Strategic Plan consolidates our efforts to expand the business base by setting out an investment of more than €1.5 billion earmarked for the telecommunications business, energy storage facilities in the Canary Islands (as a tool for system operation) and the execution of new investment activity in the international arena.
In terms of excellence, we will continue to maintain our current position of reference in the performance of our activities while focusing our efforts on consolidating the Red Eléctrica Group as a sustainable and responsible company, integrated into society and attentive to our stakeholders, basing our approach on the strong commitment of the entire organization to corporate governance and business ethics.
An essential element of this new Strategic Plan will be innovation, which needs to be integrated into the corporate culture as a lever for growth that allows us to respond to the great challenges of the future, contributing to improvement of the social, economic and environmental aspects of our society.
Obviously, all these strategic lines are based on the best asset of the Company which is none other than each and every one of the employees that make up Red Eléctrica. Therefore we will continue driving talent, creating an environment that encourages a healthy workplace that favours the organization of work and the well-being of workers.
The new Strategic Plan represents a major challenge for the entire organization and a substantial change in the strategic lines, but the professionalism and strength of our Company allows us to face the future with enthusiasm and confidence, with that confidence of knowing that, as we have always done, Red Eléctrica will achieve the objectives it sets.