Endesa and Parkia join forces to install electric recharging points

Endesa and Parkia have reached an agreement to install 127 semi-fast recharging points for electric vehicles in 61 parking lots in 27 Spanish provinces. 60% is already operative and open to the public 24 hours a day. In addition, users will be able to acquire a recharge voucher along with the parking voucher.

The electric company directed by José Bogas, through its subsidiary Endesa X, has reached an agreement with the private operator of subway parking lots to accelerate the deployment of the recharge infrastructure in 90% of its parking lots. The stations will have 22 kW, enough to recharge 80% of the battery of the electric vehicles in approximately one hour, less than the average time the cars stay.

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Endesa will distribute 4.7 billion in dividends and boost profits by 12% by 2023

Endesa X, focused on new businesses and energy solutions – from electric mobility to demand management – is one of the keys to the future of the subsidiary of the Italian company Enel, which wants to double its contribution to the company’s results to $240 million (€200 million) in 2023. 

With this perspective, the agreement between Endesa X and Parkia to deploy the recharging infrastructure is complemented by two types of solutions for drivers, which will be extended in the coming months with new options to improve mobility in the urban environment.

The first one is the punctual recharge: the user can access any of the Parkia parking lots with a recharge area, park his vehicle and leave it charging. The parking space will be paid for in the usual way (collection ticket and payment at the cashier or ATMs) and the recharge will be managed through the Endesa X app, JuicePass.

The second solution is the acquisition of a recharge voucher, along with the parking voucher

The recharge voucher has a duration of six months, for 225k Wh or 500 kWh, enough to cover about 200 or 440 kilometers per month, respectively.

When the interested party buys their monthly parking pass, they will be given a code to activate the kilowatt pass in the JuicePass recharge app of Endesa X, and they will be able to start using it each time they activate a charger from the Endesa network, both inside the Parkia parking lots and in the rest of the Endesa recharge network.

Endesa hopes to close the year with 8,000 recharge points installed in Spain, both public and private, and multiply them by 7, up to 56,000, in the year 2023.

Endesa has kept its dividend policy unchanged – the clearest and most solid in the sector

In this way, the firm led by José Bogas will deliver 100% of its profit this year, 80% in 2021, and 70% in 2022 and 2023.

According to the forecasts collected by FactSet, after the payout cut for next year, Endesa’s dividend yield will be 5.5% in 2021 and 4.92% in 2022, compared to 4% in industry average. Thus, Endesa’s payment continues to offer one of the dividend yields with its 2021 results. It is only exceeded, among the largest in Europe, by the British SSE (5.9%) and remains practically in line with its parent company, Enel.

Among its peers in the Spanish sector, its payment is only surpassed by Naturgy’s, with a profitability of 7.5% in 2021 and 7.8% for the next. Iberdrola’s, for its part, will be around 3.7% next year and 2.8% in 2022. Although the new roadmap was received with a certain indifference on the market, its titles yielded 1.4% this Wednesday. it was received with greater enthusiasm by the analysts who cover its listing on the stock market.

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(Featured image by andreas160578 via Pixabay)

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First published in elEconomista.es, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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