A historical recap

Un_poco_de_historia

A historical recap

  • THE '60S
  • THE '70S
  • THE '80S
  • THE '90S
  • 21ST CENTURY

Elecnor Group was incorporated on 6 June 1958 by a group of Spanish businesspeople who, today, after more than 50 years of history, remain the company’s primary shareholders.

Initially focused on the electric industry (power lines, substations, lighting and installations), it quickly broadens its area of business to include telecommunications and begins expanding with the creation of Spain’s first subsidiary, Postes Nervión (today Adhorna), specialised in prefab engineering and applications.

Its first foreign subsidiary is also born: Elecven (Electrolíneas de Venezuela), considered the first milestone in the international outlook which has always defined Elecnor.

During the 1970s, Elecnor Group furthers development by focusing on four strategic aspects: geographic expansion, business and customer diversification, foreign markets and talent recruitment.

During this time, the company’s area of business stretches to include the entire country, and it begins to operate in the conventional technology and hydroelectric generation markets, along with the nuclear industry, where it will develop sizeable contracts.

It remains involved in telecommunications infrastructure and begins developing industrial control systems with its own technology.

In 1975, Elecdor (Ecuador), the company’s second foreign subsidiary, is incorporated, and, in 1976, it creates the Internacional de Desarrollo Energético (IDDE) to promote the search for international projects and secure commercialisation and financing.

Three years later, in 1979, it breaches the Brazilian market with the creation of Elecnor do Brasil.


In the early 1980s, Elecnor Group enhances its international presence with its first contracts in Africa. Its pioneering turnkey project in the Ivory Coast is followed by others in Cameroon, Senegal and Burkina Faso. Apart from establishing itself in French-speaking Africa, Elecnor Group begins operating in the Dominican Republic, completes the Guatemala-El Salvador interconnection, is awarded significant contracts in Honduras and settles permanently in Central America.

In Spain, these years see the company delve into the railway industry with overhead line work and become a major player in the gas industry.

Likewise, and following its divergence from Industrial IT, it creates the corporation Cegenor, later Cosinor, in 1987, as a company specialised in Control Systems.

During the ‘90s, international business keeps climbing and, through its numerous subsidiaries, the list of countries in which it has a hold grows. This is the situation in Portugal (Omninstal), Argentina (Elecnor de Argentina), Mexico (Elecnor de México), Uruguay (Montelecnor) and Chile (Elecnor de Chile), among others.

Midway through the decade, Elecnor Group begins to establish itself in the environmental industry by forming a specific Business Management and becoming majority shareholder in the company Hidroambiente.

Following its strategy of diversification, Elecnor in 1997 decided to create Enerfín in order to work as a promoter and investor in the wind energy market, where it has grown continuously in recent years. Its first projects in Galicia were followed by others in different regions of Spain as well as in Canada and in Brazil, where it has the largest wind farm in the southern hemisphere.

The new century began an important period in the Elecnor Group's history. Faithful to its roots, it strengthened its positions in the traditional markets of electrical, gas, and telecommunications services, taking on a leading role in those sectors.


In railway infrastructure, a pivotal technology project that was first initiated in 1994 came to fruition, when the Group, together with other Spanish companies, was awarded the contract to carry out electrification of the high-speed railway line between Madrid and Barcelona.


The business of operating electric power transmission system concessions has turned into one of the cornerstones of the Group over this period, in which it has built and is operating concessions in Brazil and Chile. The company's strategy of taking concessions has spread into other market sectors like wastewater treatment plants and renewable energy.


Elecnor decided to pursue its activities in the fields of engineering, building, and hydraulic projects as a separate business area and so acquired Ehisa Construcciones y Obras in 2001. In that same year it also founded Deimos Space, the flagship of what today is Elecnor Deimos.


Its achievements in the fields of wind power and photovoltaic solar energy have placed Elecnor at the forefront of renewable energies both in Spain and abroad. The  Group acquired Atersa in 2004, and its photovoltaic solar energy business took off and has been growing exponentially of late.


Internationalisation has continued, with the acquisitions of IQA, in United Kingdom, and Belco and Hawkeye in USA.


In 2021, the Elecnor Group carried out a project to spin off a branch of activity in order to adapt its corporate structure to the operating reality. The company Elecnor, S.A. spun off the services and projects branch of activity, known as Elecnor Infraestructuras, into a new company called Elecnor Servicios y Proyectos, S.A.U. Elecnor, S.A. continues to be the listed parent company of the Group and three companies report to it: Elecnor Servicios y Proyectos, S.A.U.Enerfín Sociedad de Energía, S.L.U. and Celeo Concesiones e Inversiones, S.L.


Summing up, a lengthy tradition of uninterrupted growth and diversification has turned Elecnor Group, with a history spanning more than 60 years, into one of the leading business groups in its sectors of activity.