Beatriz Corredor (Redeia): O modelo TSO provou ser o maior trunfo do sistema e agora é fundamental para a reindustrialização do país.

"The mainland power outage of 28 April put our response capacity to the test, but also clearly demonstrated the undeniable advantage of the TSO model in ensuring the security and strength of our electricity system.

This was how Redeia Chair Beatriz Corredor addressed the General Shareholders" Meeting held today at the company"s headquarters in Madrid.

She described this as the "most challenging moment" and "the greatest test of resilience" in Redeia"s 40-year history.

During her speech, Corredor explained how this modelwhereby operation and transmission are integrated within a single entity, Red Eléctricaenabled "a swift and effective restoration of the system", thereby proving its efficiency and neutrality.

Both the Chair and the CEO, Roberto García Merino, reiterated their trust in the professionalism and dedication of the system operator"s staff "before, during and after the incident.

They both highlighted the recently published technical report by Red Eléctrica, issued just 50 days later in accordance with current regulations.

The report complements ongoing investigations with transparency, objectivity, and independence.

Corredor also welcomed the approval of Royal Decree-Law 7/2025 last Tuesday by the Council of Ministers, which, she noted, supports Red Eléctrica"s performance during the incident and aligns with the causes and recommendations outlined in the report.

The new regulatory package is also "a sign of trust in Red"s sound management" and consolidates its neutral and independent role as TSO, further assigning it new duties in managing end-user data and dynamic information from public charging points.

Red Eléctrica, a pillar of reindustrialisation

At the shareholders" meeting, both the Chair and the CEO emphasised decarbonisation as the key driver for Europe"s reindustrialisation.

They underlined the company"s unprecedented investment effort, which is enabling the execution of the current Electrical Planning and laying the groundwork for the next phase.

In just five years, Redeia has tripled its historical average investment.

In 2023, TSO investments rose by 55%, and in 2024, they increased by 34%.

So far in 2025, investment is up by 70% compared to the same period last year.

"The target for this financial year is to reach 1.4 billion, which will bring the cumulative investment for the 20212025 period to over 4.2 billionwell above the initial forecasts," said CEO Roberto García Merino.

They also pointed to the 20252030 Planning, which will focus on territorial cohesion, demographic challenges, and industrial decarbonisation as core principles.

This plan will be Red Eléctrica"s main toolbox for driving the ecological transition and generating opportunities for local economies across the country.

This commitment will be reflected in the company"s upcoming Strategic Plan, which will include a record-breaking investment volume.

Redeia"s positive impact

At this Meeting, the company presented and submitted for approval the 2024 Non-Financial Information and Sustainability Statement, which assesses progress on its 2030 Sustainability Commitment and the 20232025 Sustainability Plan.

Redeia is currently drafting its new Sustainability Plan, which will include even more ambitious goals.

As part of this commitment, the group has continued to advance its Comprehensive Impact Strategy (EIIR), through which it promotes territorial development.

To date, 117 initiatives have been launched in Spain and Latin America.

For the third consecutive year, the company has published its impact report, evaluating its economic, social, and environmental contribution throughout its value chain.

The 2024 results were positive: for every euro of net profit, Redeia contributed nearly 17 (16.9) to society, and each job generated the equivalent of over 4 million (4.33M) in value.

Resolutions approved

The General Shareholders" Meeting, with a 64.78% quorum, approved all proposed resolutions.

Shareholders also reaffirmed Beatriz Corredor"s position as Chair, rejecting by 98% the proposal to dismiss her, presented off-agenda by two minority shareholders.

Shareholders approved the reappointment of independent director José María Abad Hernández (97.24%), as well as the appointments of Natalia Fabra Portela and Albert Castellanos Madue as independent directors, and María Aránzazu González Laya as new proprietary director.

These new appointments received approval rates of 97.54%, 97.53%, and 92.02%, respectively.

With these additions, the Board of Directors strengthens its economic, financial, and regulatory expertise to continue executing Redeia"s roadmap and meeting new challenges in the coming years.

Redeia thus maintains a diverse board, with members from different educational backgrounds, career paths, ages and genders, and reaffirms its commitment and leadership in gender equality, with women now representing 58.3% of the board.