Borja Prado, chairman of Spain’s Endesa, has announced an agreement with the regional government of Catalonia, in which the utility has earmarked around EUR2.26bn ($3.15bn) for investments between 2011 and 2014.

The funds will be used to develop infrastructure to improve supply and the quality of service in the region, while the regional government has said that it will ensure the necessary permits for developing new installations are obtained.

One of the terms of the agreement is that the regional government will, at Endesa’s request, compile a reserve of strategic sites that will be available immediately to begin construction of new infrastructure projects.

The regional government will also ensure that the environmental permits for such works are extended to ten years.

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