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Electra de Viesgo is born
Fernando Villaamil Iglesias and Luis Castillo Gogorza founded Electra de Viesgo after purchasing Sociedad General de Centrales Eléctricas, a company responsible for supplying electricity in Santander. Its initial capital was 1,000,000 pesetas, and its infrastructure was limited to a hydro power plant in Puente Viesgo and a 25km power line connecting the town with Santander.
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The first acquisitions
First acquisition of Electra de Viesgo: the Bárcena dam, from Eléctrica de Besaya to increase its hydroelectric production. This purchase was followed by other dams in Cantabria, and the acquisition of its first thermal power plant: Astillero.
Image credits: Wikipedia.org
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Bet on hydroelectric generation
Hydroelectric generation continued to increase for Viesgo: it entered the Asturias market with the purchase of Energía Eléctrica de Asturias and the operating of hydraulic dams on the Cares and Aller rivers, among other points.
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Acquisition of Electra de Pasiega
Its growth continued with new hydraulic works in Asturias and the takeover of the Cantabrian Electra Pasiega, owner of the dams in the central valleys of the region.
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Continued growth
Construction began on the thermal power plant of Soto de Ribera in Asturias. That same year, Viesgo and Iberduero founded Nuclenor to subsequently operate the nuclear power plant of Garoña.
Image credits: XLSemanal-50 años de centrales nucleares en España
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Consolidation
A period of consolidation for Electra de Viesgo, with the start of the thermal power plant of Velilla del Río Carrión (1964) and the nuclear power plant of Garoña (1971).
Image credits: Wikipedia.org
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Banco Santander acquires Electra de Viesgo
A series of important corporate changes began in the company: Banco Santander, which decided to enter the energy sector, acquired Electra de Viesgo.
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Endesa and Enel
In 1991, the company was taken over by Endesa which, 11 years later, sold it to the Italian energy group Enel that renamed it Enel-Viesgo. 2006 saw the company?s centenary.
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E.ON and the new shareholders
In 2008, the German multinational E.ON took over Enel-Viesgo in its project to create E.ON España, and in 2015 it was sold to the Macquarie European Infrastructure Fund and Wren House Infrastructure, the current shareholders of Viesgo. That same year, the Group purchased 49% of Begasa (Barras Eléctricas Galaico Asturianas) from Naturgy and increased its distribution network. During this time, it recovered its original and current name: Viesgo.
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Construction of the wind farm El Marquesado
A new wind farm is built in Puerto Real, Cádiz, El Marquesado. 7 wind turbines, 24 MW of installed power and 23 million euros of investment.
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Macquaire, Viesgo´s sole shareholder.
Australian infrastructure fund Macquarie, Viesgo’s main shareholder (60%), buys 40% of the Cantabrian power company from its Kuwaiti partner Wren House Infraestructures.
