ELECNOR
Elecnor is a privately-held Spanish infrastructure and energy services company executing EPC projects for grid stability (synchronous condensers) across Ireland and developing inflatable heat shield aerospace technology through its Elecnor Deimos subsidiary.
- Company typePrivate
- Founded1958
- HeadquartersMadrid, Spain
- Headcount5,001–10,000
- GTM typeB2B
- OfferingServices
What ELECNOR does
Elecnor is a privately-held Spanish infrastructure and energy services company headquartered in Madrid, founded in 1958, with a workforce of 5,001-10,000 employees. The company operates two distinct business verticals: (1) energy infrastructure EPC services focused on synchronous condenser installation for grid stability and renewable energy integration, and (2) aerospace and satellite technology development conducted through its wholly-owned subsidiary Elecnor Deimos.
In its energy business, Elecnor delivers turnkey Engineering, Procurement and Construction (EPC) solutions to utility-scale electricity transmission and distribution operators. The company's flagship recent engagement involves four synchronous condenser facilities awarded by Statkraft across Ireland and Northern Ireland (Coolkeeragh and Quarry Lane) under the Low Carbon Inertia Services programme led by grid operators EirGrid and SONI, supporting the island's 2030 renewable integration targets. Execution is delivered through a consortium model that includes Elecnor Servicios y Proyectos, IQA Operations Group, and ESYP under full EPC terms.
In aerospace, Elecnor Deimos leads the ICARUS European consortium developing inflatable heat shield (IHS) technology for controlled rocket stage re-entry and Mars mission support. The project is funded by approximately €15 million ($16,145,177) from the EU Horizon Europe programme (June 2024), with a flight demonstrator test planned for 2028. Revenue is generated through negotiated fixed-price EPC contracts and EU R&D grants, with go-to-market executed via direct enterprise sales and consortium partnerships rather than traditional marketing channels. In May 2026, the company divested its Colombian electricity distribution subsidiary Elecnorte SAS ESP to Grupo Energía Bogotá, indicating active portfolio management.
ELECNOR firmographics
Firmographics- Name
- ELECNOR
- Legal name
- Elecnor
- Website
- https://elecnor-deimos.com
- Company type
- Private
- Founded year
- 1958
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Elecnor is a privately-held Spanish infrastructure and energy services company executing EPC projects for grid stability (synchronous condensers) across Ireland and developing inflatable heat shield aerospace technology through its Elecnor Deimos subsidiary.
- Ownership category
- akta.pro rank
ELECNOR industry classification
Industry- Product category
- Infrastructure Engineering and Energy Services
- NAICS
- Electric Bulk Power Transmission and Control (221121), Electric Power Generation, Transmission and Distribution (2211), Electrical Equipment, Appliance, and Component Manufacturing (335)
- SIC
- Electrical Industrial Apparatus (3620), Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Substation & Interconnection EPC (Collector/POI Substations, Switchyards) (EUAEADAC)
- akta.pro secondary industries
- Power Plant Electrical Systems EPC (Switchyard, Transformers, Protection & Controls) (EUAEAAAM), Distribution Substations & Switching Stations (MV) EPC (EUAEACAC)
Keywords
Where ELECNOR is headquartered
LocationHeadquarters
- HQ city
- Madrid
- HQ country
- Spain
- HQ region
- Europe
Offices3 records
Markets served
ELECNOR business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure
Revenue model
- EPC Infrastructure Contracts: Engineering, Procurement, and Construction (EPC) contracts for large-scale infrastructure projects including energy facilities and grid stability installations. Revenue is generated through project-based fixed-price contracts with consortium partners.
- R&D Project Funding: EU-funded research and development projects for aerospace technology development, receiving grants for innovation in space re-entry technology.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
ELECNOR product offering
Product offeringCore offering
ELECNOR delivers turnkey Engineering, Procurement, and Construction (EPC) services for large-scale energy and grid infrastructure projects, including synchronous condenser facilities that provide inertia services and enable renewable energy integration for utilities and grid operators. Through its Elecnor Deimos subsidiary, it also develops space and aerospace technology, including inflatable heat shield systems for controlled atmospheric re-entry and rocket stage recovery.
Product overview
ELECNOR is a Spanish infrastructure and energy services company offering a diversified portfolio spanning aerospace technology and energy infrastructure. Through its subsidiary Elecnor Deimos, the company participates in space technology projects including the ICARUS inflatable heat shield initiative for rocket recovery and Mars missions. In the energy sector, ELECNOR provides turnkey power infrastructure solutions including synchronous condenser installations for grid stability and renewable energy integration.
Differentiator
Problem solved
Functional benefit
Brands
- Elecnor Deimos: Elecnor's subsidiary specializing in space, aerospace, and satellite technology. Leads the ICARUS European consortium for inflatable heat shield development.
Products and services
- ICARUS Inflatable Heat Shield An inflatable heat shield technology developed for controlled atmospheric re-entry of rocket stages and cargo, supporting safe recovery and future Mars mission applications. Targeted at European space agencies and aerospace R&D consortia.
- Synchronous Condenser Installation Services Turnkey EPC delivery of synchronous condenser facilities that provide grid stability and low-carbon inertia services for renewable energy integration, executed under full EPC models through consortium partnerships in Ireland and Northern Ireland. Targeted at energy utilities and grid operators such as Statkraft, EirGrid, and SONI.
Quantifiable outcome
- Four synchronous condenser facilities delivering grid stability services for renewable energy integration targets by 2030
- +1 more outcomes
Companies that use ELECNOR
Customer profileNamed customers3 records
Segments2 records
Ideal customer profiles2 records
ELECNOR technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
ELECNOR partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- StatkraftcoreElecnor has been awarded two new contracts by Statkraft for the installation of synchronous condensers in Ireland, bringing its total to four such facilities on the island of Ireland. The projects are located in Coolkeeragh (Northern Ireland) and Quarry Lane (Republic of Ireland) as part of the Low Carbon Inertia Services programme.
- EirGridcoreEirGrid is the grid operator for the Republic of Ireland leading the Low Carbon Inertia Services programme under which Elecnor executes synchronous condenser projects supporting grid stability and renewable energy integration targets by 2030.
- SONIcoreSONI (System Operator for Northern Ireland) is the grid operator leading the Low Carbon Inertia Services programme alongside EirGrid, with Elecnor executing synchronous condenser projects to support grid stability across Northern Ireland.
- Elecnor Servicios y ProyectosminorElecnor Servicios y Proyectos is part of the consortium executing synchronous condenser projects alongside IQA Operations Group and ESYP under the full EPC model.
- IQA Operations GroupminorIQA Operations Group is part of the consortium executing synchronous condenser projects alongside Elecnor Servicios y Proyectos and ESYP under the full EPC model.
- ESYPminorESYP is part of the consortium executing synchronous condenser projects alongside Elecnor Servicios y Proyectos and IQA Operations Group under the full EPC model.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
ELECNOR competitors and assessment
Company assessmentBroad incumbents
- Siemens Energy: Global incumbent in power generation equipment, grid technology and EPC services. Directly comparable to Elecnor's synchronous condenser and substation EPC offering, though operating at far greater scale across the full power value chain.
- GE Vernova: Power and grid technology OEM with synchronous condensers, grid solutions and renewable integration offerings. Comparable to Elecnor's grid-stability EPC value proposition, but at global incumbency scale.
- Schneider Electric: Provides electrical distribution, substation and grid-management solutions to utilities and industrial customers. Comparable in electrical EPC and infrastructure scope, though oriented more toward digital energy management.
- Wärtsilä: Supplies flexible power plants and grid-stability solutions (including synchronous condensers and energy storage) to European utilities. Comparable to Elecnor's grid inertia services offering, with broader energy systems portfolio.
Direct peers
- ABB: Supplies switchgear, substation automation, synchronous condenser systems and grid-stability solutions to utilities worldwide, directly overlapping with Elecnor's synchronous condenser EPC scope and broader electrical infrastructure work.
- Hitachi Energy: Specialises in substations, HVDC, and grid-stability hardware including synchronous condenser installations for utilities. Closest pure-play peer to Elecnor's renewable integration / Low Carbon Inertia Services EPC work.
- Vinci Energies: European infrastructure EPC contractor executing power, grid and industrial electrical projects via consortium models. Closely comparable to Elecnor Servicios y Proyectos' full-EPC consortium execution profile.
- Quanta Services: North-American leader in utility-scale electrical infrastructure EPC, including substations and grid-stability installations. Comparable business model to Elecnor's project-based, consortium-style EPC execution.
- Thales Alenia Space: European space systems prime contractor participating in EU-funded re-entry and exploration programmes. Directly comparable to Elecnor Deimos' role as lead of the EU-funded ICARUS consortium for inflatable heat shield technology.
- MasTec: Infrastructure EPC contractor delivering utility-scale power, substation and renewable interconnection projects. Comparable project-based EPC model to Elecnor's synchronous condenser and grid-stability work.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
ELECNOR social profiles
Digital presenceELECNOR financial estimates
Financial estimateRevenue estimate
Valuation estimate
ELECNOR leadership team
Management profileNumber of profiles
Profiles1 record
ELECNOR subsidiaries and ownership
Company hierarchySubsidiaries5 records
ELECNOR funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ELECNOR M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ELECNOR
What does ELECNOR do?
ELECNOR delivers turnkey Engineering, Procurement, and Construction (EPC) services for large-scale energy and grid infrastructure projects, including synchronous condenser facilities that provide inertia services and enable renewable energy integration for utilities and grid operators. Through its Elecnor Deimos subsidiary, it also develops space and aerospace technology, including inflatable heat shield systems for controlled atmospheric re-entry and rocket stage recovery.
Is ELECNOR a public or private company?
ELECNOR is a private company. It is classified as unknown and is currently operating.
When was ELECNOR founded?
ELECNOR was founded in 1958. It employs 5,001 to 10,000 people.
Where is ELECNOR based?
ELECNOR is headquartered in Madrid, Spain, in the Europe region.
How does ELECNOR make money?
Two revenue lines are on record. EPC Infrastructure Contracts are the primary driver. The others are R&D Project Funding.
Who are ELECNOR's main competitors?
Broad incumbents on record are Siemens Energy, GE Vernova, Schneider Electric and Wärtsilä. Direct peers are ABB, Hitachi Energy, Vinci Energies, Quanta Services, Thales Alenia Space and MasTec.
Does ELECNOR have an API?
No public API is recorded for ELECNOR.
What industry is ELECNOR in?
ELECNOR's product category is Infrastructure Engineering and Energy Services. Its primary akta.pro industry code is EUAEADAC, Substation & Interconnection EPC (Collector/POI Substations, Switchyards), with a secondary code of EUAEAAAM, Power Plant Electrical Systems EPC (Switchyard, Transformers, Protection & Controls). Its NAICS code is 221121 and its SIC code is 3620.