In this exclusive interview with Iberian Property, Beatriz Corredor explains the role of Redeia and Red Eléctrica within Spain’s electricity system, the challenges of connecting new residential and real estate developments to the grid, and the measures being introduced to provide greater certainty to investors and developers.
What are the primary functions of Redeia and Red Eléctrica within the Spanish electricity system?
Redeia is a global operator of vital electricity and telecommunications infrastructures, with a mission that is clearly tied to public service: to guarantee the supply of electricity and connectivity, to drive a just green transition based on sustainability criteria, to build social and territorial conhesion, and to support the development of the industrial fabric.
We achieve this through four companies. Redinter, which manages over 7.600 kilometers of power lines in Peru, Chile and Brazil; Reintel, the largest dark fibre optic operator, managing more than 54.000 kilometers, including the fibre optic network running along all power lines and most of the Adif network; Elewit, the technology platform that develops innovative solutions for the challenges presented by the energy and digital transitions; and finally, Red Eléctrica.
This is the group’s flagship company and it plays a key dual role in the Spanish electricity system: it is the system operator and sole transmission agent of the high voltage power grid. This is the TSO (Transmission System Operator) model that was established with Red Eléctrica 41 years ago and which has since been implemented all across the EU because it offers the most effective management, the safest operation, the most efficient investment and is the most affordable for consumers. Red Eléctrica deploys and manages high-voltage electricity grids and ensures a real-time balance between generation and demand, coordinating the safe and stable operation of the entire system.
In a sector where various stakeholders intervene, how do Red Eléctrica’s responsibilities and duties differ from those of electricity suppliers and distributors?
I often use an analogy to help people understand this better, comparing the system with the human body. The brain is Red Eléctrica’s control centre, and the backbone is comprised of the major power lines and high-voltage substations that carry electricity to the distribution points. The arms and legs are the distribution networks which, within their respective regions of operation – because they operate as territorial monopolies – deliver electricity to the final consumption points. In other words, from 400.000 or 220.000 volts, the power levels at which Red Eléctrica transmits electricity (66.000 volts in the case of the islands), down to the 230 volts we have in our homes.
To continue with the analogy, the fingers and toes are the re-sellers who charge the citizens. The heart is made up of the power stations, which use various technologies (renewable, nuclear, combined-cycle, etc.) to generate electricity.
Red Eléctrica doesn’t compete with any of these players. The company doesn’t generate or sell energy; it doesn’t set the price of electricity, nor does the company’s revenue depend on those prices. Red Eléctrica receives a regulated revenue determined by the CNMC.
How would you describe the current state of the Spanish energy system, and what are the principal challenges in the short and medium term?
In an international scenario marked by uncertainty and geopolitical volatility, and by the need to increase energy sovereignty, our country is in an extremely strong position thanks to its vast renewable energy potential and the rapid transformation of its electricity system in recent years.
We are the second European country in terms of wind and solar energy capacity and generation and, in the first quarter of 2026, clean energy accounted for 60% of our power generation, placing Spain among the countries with the most competitive electricity prices in the European Union, which helps attract investment and drive industrial development.
The short and medium-term challenges include, among many others, to keep safely integrating a growing volume of renewable energy generation, reinforcing networks and interconnections, streamlining administrative processes and developing storage capacity, which is essential to this process.
The energy transition is profoundly transforming the electricity system. From REE’s perspective, what is the role of the different renewable generation technologies and how are they integrated into grid planning?
We are witnessing a radical change in the electricity system, shifting from a more linear model, where large generation hubs were concentrated around consumption centres, to a more scattered and segmented model, with smaller power stations spread all across the country.
The energy mix for each country in the European Union is up to each Member State. In Spain, this is set out in the Plan Integrado de Energía y Clima (PNIEC – Integrated Energy and Climate Plan), a strategic roadmap for the energy transition. The plan defines a series of targets for 2030, such as reducing pollutant emissions, energy efficiency and dependence, and reaching 81% of electricity generated from renewable sources.
One of the issues of greatest concern for the real estate sector is the availability of power and the timeframes associated with the development of new projects. How are future capacity requirements planned, and what criteria does REE apply when deciding where to increase or expand the grid?
Spain features one of the most robust and advanced systems in the world in terms of the grid managed by Red Eléctrica. References to "saturation" generally point to administrative rather than physical saturation. The current grid is already capable of transmitting the electricity generated by an installed capacity of over 150 GW. Added to this, permits have been granted to connect an additional 129 gigawatts (GW) of wind and solar power generation to the grid, 16 GW for storage projects, and 19 GW for industrial and technological needs, rail transport, etc.
Of these, capacity for 11 GW of demand has been allocated since 2022 (twice the amount consumed by the entire residential sector in 2025). None of these projects has been connected to our network yet. They have five years to do so.
Furthermore, the transport network still has an available capacity for new demand in 30% of its nodes. This starting point has been made possible thanks to the investment efforts made by Red Eléctrica, which has quadrupled its investment rate over the last four years. We have achieved record levels in the company’s history and no other company has invested as much in Spain’s electricity networks in recent years.
And we will maintain this course. This year we will increase our investment even further, despite the new remuneration framework approved by the CNMC, which leaves much room for improvement and places us at a great disadvantage compared with our European counterparts, at a time when major investments are essential to make the energy transition possible and for its effects to be felt in the economy.
Red Eléctrica does not decide where new power lines or substations are deployed. We execute the plan approved by the Government, following a regulated process that includes the participation of the autonomous communities, the CNMC, Red Eléctrica (as a technical adviser), all stakeholders in the sector and the developers of new energy demands, including urban development projects and data centres, thereby enhancing the connection between planning and the actual needs of the economic fabric.
Once approved, this plan is binding for Red Eléctrica, which must execute the infrastructures — and only those infrastructures — defined in the program. This ensures that we neither over- nor under-invest than what was established in the plan. And there is good news for the sector, because the Government has just announced a 52% increase in the transmission grid to meet demand from distribution networks, which is especially significant for the industrial and housing segments.
Looking at this question in greater detail, how involved is REE in the approval or rejection of capacity applications for new urban development projects, and how does the company interact with the other stakeholders involved?
The answer to this question requires a prior explanation. The new capacity arise from plans approved by the Government: it defines new electricity transmission routes; which of the existing ones can be maximised through repowering; how many new substations are required and their locations; how many new connection points (the large sockets there has been so much talk about), etc.
These access and connection permits are granted in accordance with the regulations in force, which are extensive and complex — around thirty documents, including laws, royal decree-laws, ministerial orders, circulars and CNMC resolutions—, and Red Eléctrica is obliged to apply this regulatory framework, which it does rigorously. Broadly speaking, the procedure goes like this: when there is capacity at a transmission network node and a request is submitted, if no other requests are received within the specified timeframe, the respective access is granted. If several applications are submitted for the same connection point, the network node is placed under a competitive tender, which is managed by the Ministry for Ecological Transition.
In any case, it must be noted that residential developments are not connected to the transmission grids, but to the distribution networks. In principle, 50 MW are required to connect to the high-voltage grid, which can be up to 10 times more than a large residential development requires. This means that the immediate needs of the real estate sector depend on the development of these distribution networks.
The perception of many developers and investors, both domestic and foreign, is that the viability and development costs of new real estate projects are associated with a certain energy-related risk. Does REE share this opinion and what measures can be taken to bring greater certainty to the sector?
As far as the transmission grid is concerned, the perceived shortage is often due to capacity being reserved for projects whose stage of development is not always known, which has generated situations where there appears to be a lack of capacity for priority initiatives.
To address this situation, the Government recently approved an extremely important reform (through the Royal Decree-Law 7/2026 implementing measures to mitigate the crisis caused by the war in Iran) which, among other changes, establishes certain types of consumption as priority when accessing grids, such as real estate developments for housing and essential services (schools, hospitals…).
This measure also amends the economic framework relating to reserved capacity, encouraging organisations to request only the capacity they actually need to launch a project and to implement it as soon as possible, in order to unlock capacity that had been blocked.
Overall, these measures are a step in the right direction: to improve clarity, prioritise capacity allocated to more mature projects, and provide a more predictable framework for investment decision-making.
Spain is in an extremely competitive position to attract data centres, a segment that is particularly energy-intensive. What can be done to offer developers greater clarity and predictability regarding access to supply and connection timeframes?
I agree with this opinion of Spain’s leadership position. To consolidate this comparative advantage, we must, among other things, make better use of the available power capacity. One of the most important ongoing initiatives is the regulatory framework being developed by the Ministry to regulate the behaviour of certain large demands connected to power electronics, which include data centres. The objective is to increase the system’s security, while at the same time creating new access capacity.
In this regard, one of the most important ongoing initiatives is the regulatory framework being developed by the Ministry to—among other objectives—ensure supply primarily through renewable energy plants and regulate the behaviour of certain large demands connected to power electronics, which include data centres. The aim is to increase the system’s security, while at the same time creating new access capacity.
How does Redeia listen to its different stakeholders, identify their concerns and incorporate them into its planning and decision-making processes? What can the real estate sector do to participate in this dialogue and the joint search for solutions more effectively?
Redeia deploys its infrastructures across the country, and this is not a blank slate, but rather inhabited regions, each with their own social, economic, environmental, cultural and territorial realities. This is why dialogue with public authorities, the third sector, civil society, institutions and local players is part of our approach. This is so important that we have systematically integrated it into a new tool, Territorios en Red, to work with the territories rather than just in the territories.
This is part of Redeia’s Comprehensive Impact Strategy, which puts our sustainability concept into practice: to leave things better than when we found them. This strategy shapes the company’s relationship with the environment and its stakeholder groups through active listening, early dialogue and collaboration.
We also have a network of regional delegates who facilitate the complex administrative process for each installation, and we maintain an active dialogue with our stakeholders, assessing what we hear through up to 700 annual perception surveys distributed to institutions, municipalities, businesses, customers, associations…
In this regard, the real estate sector can be particularly helpful by getting involved in the early stages and participating in the information and consultation processes in a structured manner, clearly communicating demand forecasts, actual capacity needs and development timelines.
In conclusion, the 2025 blackout generated major concern among citizens and businesses. From REE’s perspective, what lessons were learnt from that incident and what measures have since been taken to increase the electricity system’s resilience and security?
The zero power incident showed everyone how complex the electricity system is, not only because of its essentially technical nature but also because of the large number of players involved, all of them with their respective rights and obligations, and their impact on the system’s security. Therefore, the first lesson the blackout taught us is the unquestionable premise that all stakeholders in the sector must comply with their regulatory obligations. Red Eléctrica did comply with them, and all oficial reports, especially those by European experts, corroborate this: there was no breach or conduct attributable to Red Eléctrica that led to the blackout.
Indeed, all official reports confirm what Red Eléctrica stated from the outset: that this was an unprecedented and unforseeable multifactorial incident.
These reports have led to a series of actions to reinforce our system. Red Eléctrica has already addressed all the measures approved by the Government to provide the system—and particularly Red Eléctrica—with new functions and tools in areas that proved critical on April 28. We have also implemented 14 of the 15 recommendations made by the System Operator itself in its technical report following the incident.