Late on Friday afternoon, the Government released its list of Top 100 buyers for Next Generation EU funds, presenting hard data about how the money is flowing. Of the 100 funds awarded, 5.1 billion euros account for roughly 14% of Spain’s EU disbursements to date. Public sector entities own 61% of these funds, with Adif alone accumulating nearly half of the total at 2.5 billion euros to modernize both conventional and high speed rail infrastructure. Private sector participation covers the remaining 39%, with about fifty companies involved, among them CAF, Ferrovial and Sacyr standing out.
Most rail infrastructure tenders and urban mobility initiatives go to private firms, including projects that support electric vehicles. At the top of the private list are two temporary joint ventures. The Totana Totana collaboration will receive 152 million euros, and the CAF Thales Spain joint venture will obtain 134 million euros.
Ferrovial ranks third as the leading private participant. The company led by Rafael del Pino will secure 125 million euros and execute ten contracts across several jurisdictions, including six with Adif, one with the Santa Cruz de Tenerife City Council, another with Santander City Council, and two with the Bilbao City Council. Behind Ferrovial come Thales España with 119.7 million euros, the Canal de Acceso joint venture at 105 million, the Sacyr Cavosa Taboada Ramos consortium with 102 million, and the Irizar automotive group at 83.6 million.
Beyond the railway manager, approximately 423 million euros were directed to thirty municipalities for urban mobility projects and the creation of low emission zones. The Brussels list shows Madrid City Council as the largest beneficiary with 65 million euros, followed by Zaragoza with 59 million and Alicante with 40 million. Pozuelo de Alarcón, Burgos, and León received smaller allocations of 4.9 million, 5.7 million, and 5.8 million respectively.
PERTE VEC and related programs
The funds tied to the Electric and Connected Vehicle strategic project, part of the PERTE VEÇ initiative, also merit attention. This effort aims to modernize the automotive value chain with major players such as Seat, Stellantis, Volkswagen, Mercedes-Benz, and Power Holdco Spain, the latter receiving 97.5 million. The autonomous communities collectively received 24.5 billion euros designated for their investment management within their jurisdictions.
Other departments concentrate on digital priorities, directing nearly 500 million euros to strengthen cybersecurity, digitalization, support for small and medium enterprises, and modernization of public administrations. The Barcelona Supercomputing Center, the National Supercomputing Center, is among the top beneficiaries with an allocation close to 25 million euros and shares support space with the National Cyber Security Institute and the Spanish Chamber of Commerce, reinforcing SME digitalization and programs like Digital Kit and AceleraPYME.
More than 36.2 billion from the treasury
According to information from the Ministry of Economy, Spain has received about 37 billion euros in EU transfers after more than 121 milestones were met. The Public Treasury reports expenditures exceeding 36.2 billion euros up to mid October. Public administrations have launched assistance programs and calls for works worth more than 48 billion euros, with about 30 billion euros resolved. These numbers reflect ongoing investment practice under Europe Next Generation funds and the broader EU stimulus framework.
Ecofin ministers announced the approval of the Annex to the Rescue Plan on October 17, enabling a second phase that maintains a brisk investment pace for 2023–2026. This includes the mobilization of an additional 10.3 billion euros and a loan commitment of up to 83.2 billion euros. At present, the government continues working on the fourth payment request of 10 billion euros.