Red Eléctrica de España
 |
|
| Sociedad Anónima | |
| Traded as | BMAD: REE |
| Industry | Utilities |
| Founded | 1985 |
| Headquarters | Alcobendas, Spain |
|
Key people
|
José Folgado Blanco (Chairman and CEO) |
| Services | Transmission system operator |
| Revenue | €1.397 billion (2010) |
| €688.5 million (2010) | |
| Profit | €390.2 million (2010) |
| Total assets | €8.284 billion (end 2010) |
| Total equity | €1.625 billion (end 2010) |
|
Number of employees
|
1,695 (average, 2010) |
| Website | www.ree.es |
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.
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.
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.
The company owns 5% of Portuguese counterpart Redes Energéticas Nacionais, with which it holds a strategic alliance.
TDE was said to have been acquired for 92 million euros for over 99% of the company from Union Fenosa in 2002. TDE contributed approximately some 1.5% of Red Electrica’s total revenues and EBITDA. On 13 November 2014, Bolivia's government agreed to pay $36.5 million to Red Electrica in compensation for the nationalisation of TDE.
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Wikipedia