Endesa CEO José Bogas (left) and Marco Palermo general economic-financial director (right). Credit: Endesa Energía.

Spanish electric utility company Endesa has announced its new 2025-2027 strategic plan, committing €9.6bn ($10.1bn) in investments – an 8% increase from previous years.

The investment surge is aligned with the National Energy and Climate Plan’s (NECP) 2030 electrification targets.

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 Endesa is set to allocate €4bn to enhance its electricity grid, a 45% hike compared to its 2024-2026 plan.

This expansion is contingent on regulatory progress and updates, the company said.

The Spanish utility plans to invest €3.7bn, scaling back on solar to prioritise assets with higher returns, such as hydroelectric power, including a 626MW acquisition in Aragon, and wind energy projects.

Endesa is also aiming to grow its customer base in the competitive market to 7.1 million by the end of the plan, with a focus on retaining high-value customers.

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The strategic plan is designed to provide additional financial flexibility, enabling Endesa to expedite investments and seize new opportunities brought forth by the energy transition.

The company is expecting to exceed its ordinary net profit forecast by 2024, reaching €1.8bn and achieving an EBITDA of €5.2bn.

In addition, Endesa has committed to maintaining a dividend of €1 per share until 2027, extending a 70% payout ratio throughout the plan period, and forecasting a nearly 10% dividend increase to €1.2 per share for 2024.

Endesa CEO José Bogas said: “We find ourselves at a pivotal moment for achieving the energy transition objectives set for 2030.

“Regulation must support us in achieving them. This new strategic plan lays the foundation for capitalising on the greatest opportunities possible in this context.

“And it grants Endesa substantial financial capacity to expedite and enhance the necessary investments. Ultimately, we are in the best sector at the best possible time.”

By 2027, Endesa projects an EBITDA of up to €5.9bn, an ordinary net profit of up to €2.2bn, and a net debt between €10bn and €11bn.