Red Eléctrica Corporación is the holding company of the Group and it has the following dependant subsidiaries: Red Eléctrica de España, responsible for the electricity activities in Spanish territory; Red Eléctrica Internacional, responsible for the Company's foreign investment and the Group’s international consultancy service; Red Eléctrica de España Finance and Red Eléctrica Financiaciones, created as vehicles for financing the various activities of the companies of the Group; REDCOR Reaseguros S.A., created as a captive reinsurance company to reinsure the risks linked to the activities, guaranteeing better access to international markets, and Red Eléctrica Infraestructuras de Telecomunicación, responsible for the management of the business in the telecommunications sector.
Red Eléctrica de España, carries out its regulated activities in Spain, which represent 92% of the Group's business and is owner of all the transmission and operation assets, and counts on the human resources and financial resources associated to these activities. In addition, it undertakes the Company's investment plan.
Investment in electricity transmission infrastructure abroad is channelled through different subsidiaries integrated into Red Eléctrica Internacional (REI).
In Peru, REDESUR and Red Eléctrica Andina (REA); subsidiaries wholly owned by REI. Similarly, REDESUR controls Transmisora Eléctrica del Sur, Transmisora Eléctrica del Sur 2 and Transmisora Eléctrica del Sur 3.
In Chile, through Red Eléctrica Chile, a REI subsidiary 100%, it owns 50% of the share capital of Transmisora Eléctrica del Norte (TEN) as a result of the acquisition carried out in January 2016. The remaining 50% of TEN is owned by E-CL (belonging to the Engie group), a Chilean company behind the first interconnection between the northern and central electricity systems in the country.
Red Eléctrica Chile, in a 70/30 consortium with Cobra, Instalaciones y Servicios, has been awarded the contract for the execution and subsequent management and operation of more than 258 kilometres of electricity line in Chile, in an international public tender carried out by the Centro de Despacho Económico de Carga del Sistema Eléctrico del Norte Grande (SING). The project includes the design, financing, construction, operation and maintenance of the first 220 kilovolt (kV) circuit of the Nueva Pozo Almonte-Pozo Almonte line; the Nueva Pozo Almonte-Cóndores line, and the Nueva Pozo Almonte-Paranicota line, as well as the 220 kV Nueva Pozo Almonte substation - all part of the SING (Interconnected System of Norte Grande).
Red Eléctrica Infraestructuras de Telecomunicación (Reintel) as of 1 July 2015 manages the telecommunications business, an activity that had been carried out by Red Eléctrica Internacional since 2008. Reintel is focused on the commercial management and use of the fibre optic infrastructure and its associated technical spaces, and has a fibre optic network of over 32,000 km deployed.
Red Eléctrica Infraestructuras en Canarias S.A.U. (Reincan) responds to the need to promote energy storage projects in the Canary Islands, as tools for the system operator to guarantee the supply on the islands at all times and to optimise the integration of renewable energy.
Red Eléctrica de España also owns a 50% stake in INELFE, a company created jointly with its French counterpart, RTE, for the development of interconnections with France.