Endesa said this Tuesday, 24th, that the project associated with the conversion of the Pego plant is still “in the authorization phase” and that the delays are due to authorization issues and the need for adjustments due to environmental declarations.
“We are still in the authorization phase,” said Endesa’s financial director (CFO), Marco Palermo, at a press conference in Madrid.
The Spanish energy company plans to start construction of the project in 2027, but could advance the deadlines if authorizations are obtained sooner, said Marco Palermo.
The executive president (CEO) of Endesa, José Bogas, highlighted that “the project is launched” and that the company believes it “could be a star project” in energy in the coming years.
According to José Bogas, “the delays that have occurred” have been related to “authorizations, adjustments” and changes required by the Environmental Impact Statements (DIA).
“But that’s normal,” he added.
Endesa said today that it plans to start construction of the project associated with the conversion of the Pego plant, in Abrantes, in 2027, after, a year ago, having already assumed “some delay” in the calendar.
The company today announced an update to the company’s strategic plan for the period 2026-2028, which foresees 10,600 million euros of global investments, 3,000 million of which will be for renewable energy.
It is in this context that he mentions the “just transition project in Pego (Portugal), whose construction is scheduled to begin in 2027”.
“It will incorporate 600 MW [megawatts] of new renewable hybrid capacity (wind, solar and batteries), with an estimated investment of 600 million euros. Its hybrid configuration allows for a power profile close to base load, which makes it very suitable for large-scale customers such as data centers,” Endesa wrote in a statement released today.
A year ago, when it presented its 2024 results, Endesa already admitted “some delay” in the Pego plant project, but guaranteed, and today reiterated, that it maintains all its commitments.
At the end of January this year, Endesa announced the 2026 formation plan for the Rural School of Sustainable Energy, in Abrantes, created as part of the Pego project, which company sources told Lusa was “in the environmental processing phase”, referring more details to today’s presentation of the Strategic Plan for 2026-2028.
Endesa won the fair transition competition for the conversion of the Pego Thermoelectric Power Station, with an investment project of around 600 million euros, which combines the hybridization of renewable sources (solar photovoltaic and wind) and their storage, with social and economic development initiatives.
The company is the largest Spanish electricity company and the second largest gas distributor in Spain.
In Portugal, Endesa produces and distributes electricity and won the tender for the conversion of the Pego plant.
Endesa also has projects in Portugal to generate solar energy.
The energy company announced today that it had profits of 2,198 million euros last year, 16.4% more than in 2024.
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