Following the asset acquisition, in 2011 the Grid Asset Improvement project is implemented to adapt island facilities to the quality standards of mainland infrastructures.
In 2012, the milestone of the Peninsula-Balearic Island electricity interconnection—a global benchmark for its uniqueness and technical complexity—is reached. In May 2012, the company suffers the nationalisation of the subsidiary TDE (Transportadora de Electricidad) by the Bolivian government.
In 2013, the new Spanish Electricity Sector Act (Ley del Sector Eléctrico) takes effect, making the company the sole transmission agent and operator of the Spanish electricity system. On 27 December 2013, the Council of Ministers approves the Royal Decree establishing a new remuneration framework for electricity transmission activity in Spain—a remuneration model with a clearer, more stable and more transparent methodology.
Also in 2013, the Shareholders’ Meeting approves the creation of the Independent Coordinator Director, in accordance with international best practices in corporate governance.
In 2014, the transmission grid is reinforced by the commissioning of 621 km, including the new interconnection with Portugal through the 400 kV Puebla de Guzmán-Tavira axis and the laying of submarine cables for the Ibiza and Majorca interconnection.
In November 2014, the company acquires the assignment of rights and the use of ADIF’s commercial fibre optic network for the next 20 years. This diversification operation makes Red Eléctrica a neutral and independent operator in this segment of the telecommunications market, assuming a role similar to the one it performs in the electricity sector.
On 13 November 2014, a definitive agreement is reached with the Bolivian government for economic compensation following the nationalisation of the company TDE.
In December 2014, Red Eléctrica is awarded the European Business Award for the Environment in the special category of Business and Biodiversity for its project ‘Birds and power lines: Mapping of bird flight paths’.
In 2015, the milestone of the Spain-France underground interconnection is achieved, a pioneering project that doubles the electricity exchange capacity between France and Spain. In addition, two new subsidiaries are created: Reintel (Red Eléctrica Infraestructuras de Telecomunicación) to provide telecommunication services, and Reincan (Red Eléctrica Infraestructuras en Canarias) to promote energy storage projects, like system operator tools, in the Canary Islands.
Internationally, in 2015 the company establishes its presence in Peru with new line concessions, and enters the transmission business in Chile.
Red Eléctrica has a workforce of over 1,700 employees and manages more than 42,000 km of power lines.
José Folgado has served as chairman of Red Eléctrica since 2012.