José Manuel Entrecanales, chairman and CEO of ACCIONA, stated today during his address to the Annual General Shareholders’ Meeting that “investing in subways, power grids, water treatment plants, rail corridors or digital infrastructure enables a smooth-running economy, a well-structured society, and a country’s progress.” 

“Demand is unstoppable,” said the ACCIONA chairman, after analyzing the reasons behind the global investment boom in the sector. “The record deficit in infrastructure of all kinds, combined with climate change, digitalization, and urban growth, is creating an unprecedented social demand for infrastructure,” he said, adding that in this context “there are relatively few companies capable of bridging the gap between public need and private investment appetite—and this is where ACCIONA’s strategic opportunity is consolidated.”

He noted that ACCIONA knows “how to plan, finance, build, and operate complex infrastructure,” and that it creates “precisely what major global investors want to hold in their portfolios and what society needs—remaining true to the valuable paradigm of aligning social impact with financial returns.”

Referring to the company’s results presented at this Shareholders’ Meeting, he affirmed that they reflect a clear and intrinsic commitment to a business model aimed at generating positive impact.

In that regard, he pointed to renewable energy as a “paradigmatic example.” “Its rapid development has been possible not only because it is a clean option, but because it has proven, with real results, its competitiveness.” He explained that in 2024 more than 90% of the new capacity installed globally was renewable. “This reflects that it is not only the cleanest option but also the cheapest, most flexible, most scalable, most independent, and the fastest to implement,” he stated.

As avenues for further progress, he proposed the repowering of wind farms, the development of storage systems, and the electrification of demand through industry, transport, or climate control systems “supported by stable regulatory frameworks and clear price signals that encourage investment, particularly in grids.” 
 
 
2024 MILESTONES

In his speech, the chairman of ACCIONA outlined the company’s key milestones in 2024: the strong growth of ACCIONA Energía — with the addition of 2GW of new capacity (reaching a total of 15.4GW) and the implementation of an effective asset rotation strategy — and the consolidation of Nordex’s business, as well as an outstanding year for the Infrastructure division, which ended the year with a record-high global backlog in construction, water, and concessions.

Regarding ACCIONA Energía, he emphasized that last year’s growth came mainly from the development of the company’s own pipeline in countries such as Australia, India, Canada, the United States, Spain, and Croatia. 

“The asset rotation strategy has delivered very positive results, with €1.3 billion completed in 2024 at very attractive valuations,” explained the ACCIONA chairman. “In addition, we have other asset rotation deals under negotiation globally—some at very advanced stages—for nearly 4,000MW. We would only need to close approximately one-third of these to meet our targets,” he added.

Regarding Nordex, he highlighted that “2024 was a transformational year in which key operational and financial goals were exceeded, and the company established itself as the world’s second-largest wind turbine manufacturer outside China.”

In the case of the Infrastructure division, he noted strong EBITDA growth to €762 million (+38.4%) and a combined backlog of €53.843 billion (+58.1%), driven by major project awards in Australia and the United States.

He also mentioned the Concessions business: “The acceleration of our growth means that today we have a portfolio of 80 concession assets, with over €3 billion in investments made or committed through 2032. This portfolio will help define the next decade and once again demonstrate our ability to generate long-term sustainable value,” said Entrecanales. 
 
 
ZERO TOLERANCE 

The chairman of ACCIONA dedicated part of his speech to “clearly and unequivocally reaffirming ACCIONA’s commitment to the highest respect for legality and business ethics,” in response to recent reports concerning alleged irregularities involving, among others, a former ACCIONA Construction employee and a third-party company currently under judicial investigation.

“We are deeply troubled by the potential reputational impact these reports may have, both on our company and on the more than 66,000 employees who carry out their work each day with enthusiasm, dedication, commitment, and the utmost integrity and professionalism,” he stated.

In his remarks, he reviewed the measures ACCIONA has taken to address the situation. Among them, the company has initiated proceedings to terminate its contracts with the company under investigation, due to noncompliance with ACCIONA’s regulatory and conduct standards. It has also decided to dismiss the executive responsible for the Construction business in Spain, as the events in question reveal a lack of diligence in fulfilling his management and oversight responsibilities.

The chairman emphasized ACCIONA’s century-long track record as a company “built on the foundations of business rigor, professional ethics, and respect for the law,” and defended its legacy of integrity.

In this vein, he pointed out that in 2024, this way of operating enabled the company to generate resources to pay €14.23 billion to suppliers, contribute €2.491 billion in taxes, and pay €2.272 billion in wages and salaries.

The ACCIONA Annual General Shareholders’ Meeting also approved, among other items, the 2024 annual accounts and the Sustainability Report, as well as the distribution of a gross dividend of €5.25 per share, which will be paid on July 10th, 2025.

Additionally, shareholders voted in favor of the reappointment of three independent directors (Sonia Dulá, Maite Arango, and Carlo Clavarino), and the continuation of KPMG as the auditor for the 2025 fiscal year.