Redeia Group's grid investment reaches €1.092 billion in first nine months

en.Wedoany.com Reported - On October 28, Spain's Redeia Group published its investment figures for the first three quarters of 2026. From January to September, its power infrastructure business invested a cumulative €1,091.8 million, up 19.3% year on year from €915 million in the same period last year. The funds were mainly directed to transmission network construction, upgrading of existing facilities, power interconnections and energy storage projects in the Canary Islands. Overall group investment during the period reached €1,138.9 million, up 17.7% year on year.

Investment in the development of Spain's domestic transmission grid reached €965 million, up from €834 million in the same period of 2025, covering transmission lines, substations and the renewal of existing grid facilities. Redeia Group continues to advance the Biscay Bay submarine power interconnection between Spain and France, the second power interconnection between mainland Spain and the Balearic Islands, and other cross-regional transmission network projects.

Energy storage projects in the Canary Islands received a cumulative €101 million in investment, compared with €61 million in the same period last year. The related construction mainly involves the Salto de Chira pumped-storage project on Gran Canaria, including underground caverns, water conveyance tunnels, reservoirs and pumping systems. The power system operation business invested €26 million during the period, an increase of €6 million year on year.