We presented our investment plan to the Lehendakari during his visit to the Igorre plant

• This plan, with an investment of over 35 million euros for our plant in Igorre and our future headquarters in Derio, aims to expand our industrial capacity, incorporate fluorinated gas-free technological solutions, promote the digitalization of the business and advance its commitment to the energy transition and sustainability.

• As part of this transformation, Lehendakari Imanol Pradales visited the new SF₆-free cell production line at the Igorre plant. He was accompanied by the Minister of Industry, Energy Transition and Sustainability, Mikel Jauregi; the Chairman and Vice Chairman of Velatia, Javier Ormazabal and Alejandro Ormazabal, respectively; the CEO of Ormazabal, Jorge González; and the plant director, José Luis Bilbao.

• With this ambitious investment plan for the period 2024-2026, we reaffirm our commitment to industrialization, job creation and the economic development of the surrounding area.

At Ormazabal, we continue to advance our strategic growth plan with a planned investment of €35 million for the period 2024-2026. This investment will be allocated to the expansion and modernization of our production centers in Igorre and to the consolidation of our new headquarters in Derio at the Technology Park.

During his visit to the Igorre plant, Ormazabal’s largest industrial facility, Lehendakari (President of the Basque Government) Imanol Pradales learned firsthand about the progress of the €20 million investment plan being developed at the center. He was accompanied on the tour by the Basque Government’s Minister of Industry, Energy Transition and Sustainability, Mikel Jauregi; Velatia’s Chairman and Vice Chairman, Javier Ormazabal and Alejandro Ormazabal, respectively; Ormazabal’s CEO, Jorge González; and the plant’s Director, José Luis Bilbao.

This investment plan reflects Ormazabal’s firm commitment to the energy transition, through a strong focus on technology and innovation. Thanks to this initiative, we have begun mass production of our new family of SF6-free switchgear, a solution that is being very well received by the market and positions Ormazabal as a leader in the development of safe and sustainable solutions for the electrical grid.

The aim of this industrial investment is to equip the Igorre plant with the most advanced technology for the production of our new ‘cgm.zero24’ cell family, thus guaranteeing the supply of fluorinated gas-free solutions for both the domestic and international markets. This product line represents a key step in Ormazabal’s strategy towards a safer, more sustainable, and more efficient electricity grid.

Since its opening more than 35 years ago, the Igorre plant has established itself as one of the main economic and social drivers of its surrounding area, contributing significantly to job creation, wealth generation, and added value. With a team of over 600 professionals, the facility maintains close collaboration with the industrial value chain, working in a coordinated manner to strengthen the local production network, as well as with local training centers and universities to promote regional talent.

On the other hand, we are making progress in launching our new facilities in the Bizkaia Science and Technology Park, which will house the core of our most digital solutions and become our new global headquarters. This project, which has involved an investment of 15 million euros, will bring together a multidisciplinary team of approximately 200 professionals, consolidating a space for innovation and technological collaboration.

With these investments in manufacturing and R&D, at Ormazabal we are preparing to meet the growth and demand of the sector, while also boosting wealth creation and strengthening our local ties. Currently, we have a team of 1,200 professionals in the Basque Country, generate more than 2,000 indirect jobs, and invest around €175 million annually in purchases from Basque suppliers. All of this reaffirms our commitment to industrial activity as a driving force for transformation towards a more sustainable and efficient electricity grid, from the region where our headquarters have been located for almost six decades.

Commitment to technology and sustainability

Technology, innovation and a commitment to sustainability are fundamental pillars of Ormazabal’s strategy, along with the promotion of key trends such as the energy transition, digitalization and cybersecurity.

In this context, we are firmly committed to R&D&I as a driver of competitiveness, with the aim of optimizing processes, managing facilities and equipment more efficiently, reducing operating and maintenance costs, minimizing environmental impact, and developing new products and services.

In 2024 alone, Ormazabal had a team of 115 professionals dedicated to research and allocated approximately 4% of our revenue to R&D activities, reinforcing our position as a benchmark in the development of advanced technological solutions for the electricity grid of the future.