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12 March 2004 - Spanish electricity utility Endesa said on Thursday it would invest €3.7bn ($4.55bn) to boost its installed generating capacity in Spain by a quarter between 2004 and 2008.

The company said it would construct 5847 MW of new capacity over the four-year period, to help meet a steadily growing appetite for electricity in Spain. Demand is expected to increase 16 per cent by 2008, Endesa said. Endesa invested €632m in generation during 2003.

Spain's demand for electricity is expected to increase 30 per cent by 2010. The country experienced a power shortage in 2002, which led to a number of price spikes. A large construction programme of combined cycle gas turbine plants is underway to address this shortage.

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