Redeia, also known as Redeia Corporación, S.A., is publicly owned and headquartered in Spain. Founded in 1985, the company employs approximately 70 individuals. Specializing in utilities, Redeia owns and operates the Spanish electric transmission system, having acquired almost all of the nation's power grid through government decree. The company also operates a small fibre-optics network in Spain and maintains a growing Latin American infrastructure business.
Redeia reported first-quarter results on April 29, indicating the company is positioned to meet its full-year guidance, with clean EBITDA reaching €325 million and on track for over €1.25 billion for the year. Previously, on April 28, Irish and Spanish ministries signed a memorandum of understanding to explore a potential future electricity interconnector between the two countries, marking the initial step in assessing its feasibility and benefits. This followed the establishment of Redeia's EMTN programme for hybrid and senior bonds on April 27, which included a first issuance of €500 million in European Green Bonds. Earlier, in February 2026, Fitch Ratings downgraded Redeia's ratings to 'BBB+', a decision detailed in an April 24 report. Fitch attributed this to projected net debt/regulatory asset base and funds from operations net leverage metrics consistent with a 'BBB+' rating, stemming from an expanded investment program and a steadily growing dividend that resulted in deeply negative free cash flow.
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