Over the past several years, Spain has become the largest European wind-power producer and second largest in installed capacity. Given Spain’s commitment to the development of renewable energy, Spanish law requires Red Electrica to make capital, research, and development investments to ensure the company supports the growth of wind-power generation sites. As a result, Red Electrica presents Portfolio 21 with a unique investment opportunity in the utility sector through facilitating wind energy generation and distribution via the operation of connecting infrastructure. Red Electrica’s expertise in the linking of wind-power generation sites, and experience in managing the electricity flows from these sites, will provide the company with key competencies needed for the continued growth of renewable energy systems.
Red Electrica has set up the world’s first renewable energy control center, CECRE, with a mission to guarantee the maximum integration of renewable energy into the electricity system under secure conditions. Its implementation makes Spain the first country in the world to have all wind farms over 10 megawatts of capacity connected to a control center. Red Electrica is well positioned to transmit larger amounts of renewable energy in an increasingly carbon-constrained economy. Portfolio 21 continues to encourage the company’s improvement of its environmental accounting and reporting.
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 1/31/13 and may not reflect current opinions or subsequent events.