Galán: ‘Public–private partnerships is essential for countries to progress’

Iberdrola Executive Chairman Ignacio Galán, attended the presentation ceremony today for the expansion of the Faramax plant in Malpartida de Plasencia, Cáceres, in south-western Spain. This project, with an investment of €37M, will make a substantial increase in transformer manufacturing possible. 

Ignacio Galán highlighted that this project demonstrates the potential of public–private partnerships, referring to the origins of Faramax, which was born out of the work between the Regional Government of Extremadura and the Extremadura Business Corporation.

‘We need public–private partnership, to talk together and to row in the same direction. Together, we can achieve great things, thousands of jobs can be created, it’s essential for countries to progress’, he said, paying special tribute to the former presidents of the Regional Government of Extremadura, Juan Carlos Rodríguez Ibarra and Guillermo Fernández Vara, now deceased, and the current president, María Guardiola, who was at the event, as participants in this successful relationship.

In his speech, the Executive Chairman of Iberdrola highlighted the role of electrification, which ‘is unstoppable’, but pointed out that it requires distribution networks because there is latent demand that cannot be met due to the lack of grids. He concluded by calling for regulatory frameworks that would make these investments possible.

The company's founder and director, Víctor Cioban, thanked the president of the Regional Government of Extremadura and the president of Iberdrola for attending the event, adding that the latter was ‘one of the reasons for us to set up in Malpartida de Plasencia and a key strategic partner’. He then highlighted the electricity company's commitment. 

Faramax has been awarded the Iberdrola Convive awards and recognised as Iberdrola España’s 2024 Supplier of the Year in the category of Sustainability and Contribution to Sustainable Development Goals.