Mr. Folgado announces the full integration of the Balearic systems into the peninsular system

The Chairman of Red Eléctrica took part in a roundtable on public-private partnerships for sustainable development of the energy business.

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José Folgado, Chairman of Red Eléctrica de España, announced in Palma de Majorca the imminent integration of the entirety of the Balearic Islands’ electricity systems into the peninsular electricity system, after works finished on the submarine link between Ibiza and Majorca. This link, awaiting its entry into commercial operation, becomes an integral part of the existing interconnection between Majorca and the Spanish Peninsula commissioned in 2012; an interconnection which has represented an annual saving for the electricity system as a whole of between 50 and 60 million euros. Mr. Folgado highlighted that the shift to a new energy model in the Islands is a fundamental part of Red Eléctrica’s strategic plan, which includes an investment of 628 million euros in the Balearic Islands archipelago until 2020.

Last Thursday, Palma de Mallorca hosted the first day of the Smart Destination Congress Energy & Tourism 2016, an event in which experts in the field of energy and the tourism sector gathered to discuss strategies for the future regarding a move towards a more sustainable development of their activities.

The Chairman of Red Eléctrica took part in the roundtable on "Public/Private Partnership: energy and sustainability in terms of competitiveness, infrastructure, initiatives and financing instruments" a roundtable on which he was accompanied by the President of the Innovation Commission of the Majorca Chamber of Commerce and moderator of the table, Tolo Gomila; the Vice President of the Balearic Islands’ Government, Gabriel Barceló; the Managing Director of Redexis Gas in the Balearic and Canary Islands, Miguel Mayrata, and the Global Projects Director of Meliá Hotels International, Tomeu Rosselló.

During his speech, Mr. Folgado stressed that the full integration of the Balearic Islands’ electricity system into the peninsular system will result in greater security and quality of the electricity supply in the Balearic Islands, lower cost of its energy and a more sustainable electricity generation mix. As of 2020, a second cable linking Majorca to the Spanish Peninsula is planned, which will make it possible to increase generation from renewable sources into the electricity supply of the Islands.

Mr. Folgado highlighted the major role that the submarine link between Majorca and the Spanish Peninsula plays, thanks to which the Balearic Islands has been able to reduce its electricity generation costs and, therefore, represents a saving on consumers’ bills. In addition, this submarine link has increased the security and quality of supply on the Balearic Islands.

In order to build a more sustainable energy model, Mr. Folgado stated that the Electricity Infrastructure Planning foresees in its for post-2020 stage the bringing into service of a second link with the peninsula, through which the contribution of generation from the Spanish Peninsula would grow to between 50 and 60% of the total, whereas today it represents between 25 and 30% of the global consumption of the Balearic Islands’ system.

Finally, the Chairman of Red Eléctrica focused his speech on the effort that all countries are making to achieve greater sustainability and efficiency of the electricity system through the commitments on climate change adopted at the Paris Summit. Another important fact highlighted by Mr. Folgado was the exponential introduction of the electric car in the market in the coming years, a fact that will lead to a new energy model worldwide and which will be especially relevant in the case of the Balearic Islands, due to the reductions of CO2, which will provide greater environmental quality to its tourism industry.