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Redeia Flags $1.75 Billion 2026 Investment as Interconnection Projects Move Forward

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-- Redeia reported Q1 earnings Wednesday, accelerating grid expansion with major interconnection and storage projects, backed by a 1.5 billion euros ($1.75 billion) 2026 investment plan.

The company continues to advance key transmission projects, including the Spain-France interconnection, with the first link scheduled to enter service in 2027, supporting cross-border capacity expansion, the company said.

Redeia also progresses on the second mainland-Balearic Islands interconnection, which includes a high-voltage direct current link and battery systems to enhance system flexibility and renewable integration, it said.

The La Sagra transmission axis project remains under development and is expected to come online between 2026 and 2027, aimed at easing grid constraints and enabling renewable energy integration in central Spain, the company said.

In storage, construction continues on the Canary Islands reversible hydroelectric plant, designed to store surplus renewable energy, Redeia added.

The company plans transmission system operator investments of about 1.5 billion euro in 2026, focused on grid expansion, interconnections, and storage to support energy transition goals, the company said.

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