State-owned firms capture the bulk of Next Generation EU funding in Spain

Data released by the Ministry of Economy's Elisa tool reveals that public and state-owned companies have absorbed the greatest share of Next Generation EU assistance, outpacing private sector recipients by a wide margin. The most substantial allocations went to Adif (approximately €2.9 billion) and its high-speed subsidiary, followed by Tragsa and its subsidiary Tragsatec, which together received over €2 billion. Other public firms such as Segipsa, Ineco, Incibe, Correos, Renfe and Enaire each obtained hundreds of millions of euros.

In contrast, the largest private beneficiary, Avatel, was granted just under €300 million. Autonomous communities, cities and local authorities also secured funds, with the Valencian Community and Catalonia among the top regional recipients.