My name is Mateo Ochoa, a member of the investor relations team of ISA. We would like to thank you all for joining us in the earnings results conference covering the second quarter of 2025 of ISA and its companies. During the presentation, please send your questions through the window that is on the right-hand side of your screens. On the dialog box, please provide your name and the company you represent. Questions will be answered at the end of this presentation. Let's move to the next slide, please. Today, we are joined by Jorge Andrés Carrillo, CEO of ISA, Jaime Falquez, CFO, Gabriel Melguizo, VP of Power Transmission business, Patricia Castaño, VP of Corporate Strategy, and Natalia Pineda, VP of Road Concessions.
The outline today begins with the highlights of the second quarter of 2025 explained by Jorge Carrillo, followed by the financial results given by Jaime Falquez, and then we will have a chapter on the road concessions chapter of Natalia Pineda. We will go back to Jorge for closing remarks and end with a Q&A session. Let's give the floor to Jorge Carrillo. Next, please. Yes. Good morning, Mr. Carrillo.
Thank you, Mateo. Good morning, and thank you for joining us today. Next slide, please. Let's begin by talking about the highlights of the quarter. The semester ended displaying good results. Our revenue keeps growing, thanks to the commissioning of new projects and to contractual escalators. Next, please. However, our accounting figures were impacted by two special events. In Brazil, the regulator adjusted the formula that updates compensations from the RBSE's assets, impacting the EBITDA and net profit.
Ahead, we will provide a further explanation on this. On the other hand, Colombia recorded an increase of reserves for Air-e as a result of the financial situation of this distribution company in the Caribbean coast. Meeting our promise to create value for our shareholders and as determined in the shareholders' meeting, on May 27th, we made the first payment of dividends. That is 60% of total payment. Payment was COP 759 per share, adding to a total of COP 841 billion. Next. In Brazil, we had the commissioning of Água Vermelha, a strategic project that reinforces our infrastructure and will integrate projects of solar energy in three states. Its investment is close to COP 70 billion. Likewise, in Brazil, we have the commissioning of seven reinforcements and improvements of the grid. Next. Moving on to the road business.
In Panama, we began the construction stage of the Panamericana Este project, meeting 100% of the contractual milestones. Natalia Pineda will tell us more about this project and its most relevant milestones ahead. Next. In the telecommunications business, we keep advancing with the National Connectivity Plan in Colombia to guarantee access of top quality to internet in rural areas. Next. To end the highlights, we have our net zero commitment by 2050. What is net zero? It means mitigating at the most the greenhouse gas emissions and compensating by 2050 those we cannot reduce. Although our emissions within the power sector are relatively low, we commit to reduce emissions by 90%, with an intermediate goal of 60% by 2040, aligned with our ISA 2040 Strategy. We will reach this goal by adapting, mitigating, and using circular economy in all of our businesses and value chains.
Now we are working with renewable energies projects, energy efficiencies, and circular economy projects. This ends the quarter's highlights. Now let's look at investment figures. Next. During the second quarter of 2025, investments were made for COP 1.3 trillion, reaching COP 2.7 trillion so far this year, 29% more than what we invested in the first semester of 2024. The figure in the middle shows the distribution of CapEx by geography and business segment. 84% of investments were in power transmission, 13% in roads, and 3% in telecommunications. Brazil represented 48% of CapEx, with the project of Água Vermelha and seven grid reinforcements, as well as developments in 191 reinforcements and five projects bidded and awarded by ANEEL in prior periods. Colombia represented 20% of ISA's investments, making physical advancements in 10 projects awarded by UPME and others that are underway.
Peru represented 12% of investments in the projects that seek to enhance the transmission system and accelerate its energy transition. Chile represented 11% of investments made. In power transmission, we advanced building five projects, including three expansions of the grid and two projects awarded. Also, it entered the portfolio of the construction of Palma Centella, a project awarded the prior quarter. In business of roads, we continue with the Orbital Sur Santiago Road, as well as Ruta del Maipo, and implementing the free flow system in Acceso Sur to Santiago. To end, 9% of investments were made in Panama for the revamping and maintenance of the Panamericana Este Road. On the right-hand side, you can see ISA's effective participation in the CapEx, which means the percentage of share in the different subsidiaries. Next.
By the end of June 2025, investments pending execution in the period 2025 - 2030 rose to COP 28.4 trillion. On the left, you can see the distribution by geography and business segment. Investments consist of commitments of investments in bids awarded in each of the countries where we operate, as well as reinforcements and improvements of the grid of ISA Energía Brasil. On the right-hand side, you can see annual projections to execute these investments. The total of the year 2025 of COP 6.6 trillion includes the COP 2.7 trillion we invested from January to June. Today, we are building 37 projects distributed in 35 power transmission projects and two of roads, which will add up to 5,432 km of lines and interventions of 296 km of roads. Of the 35 projects that we have of power transmission, let's look at those that are most relevant. Next slide, please.
As I told you, of the 35 power transmission projects awarded, and one we highlight the 10 largest in terms of investment, which along with the reinforcements made in Brazil, is about 90% of our investments in 2030, with an investment close to $5.7 billion. These projects are important in the region, contribute capacity and reliability to the transmission grids, and habilitate the energy transition. Also, we can consolidate with them one of the most relevant infrastructure platforms in Latin America, and contribute revenue per year close to $420 million. In Colombia, we have two important projects to expand the availability and reliability of the transmission grid in northern part of the country. Yesterday, August 5th, we put in operation the Copey - Cuestecitas project, which will benefit 17 municipalities in Guajira, Cesar, and Magdalena.
This interconnection will increase the installed capacity of the national grid and improve the reliability of the three departments I have mentioned, and it will connect non-conventional renewable energy projects in Guajira. In Chile, we have two major projects that will habilitate the decarbonization of the power grid for the contribution of higher reliability and reinforcing the infrastructure of power transportation, which is a main challenge of the energy sector in Chile. In Peru, through the GEPPai consortium, we were awarded the most important project of the country. It is called Tose SEPI, which is strategic to enhance the energy matrix in the northern part of Peru, increasing the reliability in the central and northern part of the country. In Brazil, as you can see here, we have the most number of projects. We are talking about 198 reinforcements and improvements of the grid.
Itatiaia and Riacho Grande projects are in the state of São Paulo, where we are responsible of 95% of the power transmitted. Also, we have Serra Dourada and Piraquê to implement renewable energy sources in Northeast São Paulo, especially focusing in wind and solar plants. As you can see, we have very ambitious goals for next years and major execution challenges. We are working with discipline, overcoming the challenges of each project. This ends the section. Let us give the floor to Jaime Falquez, who will provide us financial results.
Thank you, Jorge. Greetings to those that are with us today. To talk about the results. Next slide, please.
Let me begin this financial chapter highlighting the positive and up growing performance of our operational indicators, keeping in mind two special events that impacted the financial figures of the quarter in Brazil, and we will see it in more detail in the next slide. We made an adjustment in the formula of updating the financial component of the compensation of assets of the RBSE or the existing basic grid. This adjustment represents an effect on the EBITDA of ISA consolidated of COP 594 billion and on the net profit of COP 140 billion. In addition, in Colombia, there was an increase in the reserves of Air-e for COP 88 billion, which lead us to a total reserve so far this year for COP 163 billion. In terms of the debt, it remains in stable levels. Our indicators continue within the ranges suggested to keep our investment degree.
As Jorge has said before, on May 27, we paid the first part of the dividends decreed for this year, which represent 60% of the total dividend that we will be paying this year to our shareholders. On June 30, Moody's ratified our risk rating as an international issuer and a Baa2+, confirming once again our excellent credit risk level. Next slide, please. To understand a bit better the dimension in which we relate this effect that we experienced this quarter related to the update made of the RBSE in Brazil, let me highlight several things and give you the bottom line of this. Revenue from the RBSE rise in 2012 with the renewal of the concession 059 in ISA CTEEP. The recognition consisted on compensating the assets of power transmission that were in operation before the year 2000 and were still not depreciated.
The beginning of this recognition began in 2017, that is why the compensation was divided into two parts. One was economic, which corresponds to the value of the assets, the other financial, which recognized the yield over that compensation between 2012 and 2017, when payment began. That financial component began to be compensated in 2017, but suspended by ANEEL because of the consumer groups. This effect was a controversy until 2020, when it was seen as legal and a payment plan was determined until June 2028 of the financial component and an update of that same component, precisely because of the suspension of its payment. Then in 2022, several groups and market agents asked to review the methodology to calculate the payment of the financial component. ANEEL, which is the Brazilian regulator, accepted to analyze several components of its calculation methodology.
In June 2025, it made a partial adjustment of this methodology, and it is reflected as a lower value of the three last payments that are pending until 2028. Because of accounting regulations, all effects of that update will be seen on the figures of this second quarter, of course, impacting the EBITDA by COP 594 billion and on the net profit by COP 140 billion. It is important to highlight that this decision made by ANEEL closes the administrative process and therefore turns it into a process that is non-recurrent. Next, please. Here we can see the consolidated results on this slide. Here we have the figures at the end of the second quarter of the year. On the top, you can see the performance of the EBITDA, while on the bottom of this slide, you can see the performance of net profit.
If we focus on the operation of the business, how we are doing, the management of the company, the EBITDA grew 8% compared to the same period of 2024. Why? Because of the commissioning of new projects with new revenues and because of the positive effect of the contractual escalators. On the right-hand side, you can see the impact of two special events that we explained that have to do with the adjustment of the financial component of the RBSE in Brazil, as well as the reserve of Air-e with which the final EBITDA is COP 4.1 trillion, representing a drop of 9% compared to the same period of the year before. The distribution of EBITDA accumulated by segment was 80% for power transmission, 17% for road concessions, and 3% for the telecommunications business.
If we look on the bottom, the net profit, without keeping in mind the special events, the profit would be up 4% because of the better operational results, and these special events have an impact on the results, leading to a profit at the end of this quarter of COP 1.4 trillion. The explanation of the quarterly performance is because of the same reason of the accumulated, and this is detailed in the results report that you have available as investors, as shareholders. Let me complete this slide, repeating that our operations are proper. We are driving our projects, creating new revenue, and these special events that hindered the figures of the quarter and accumulated do not compromise the company's financial soundness nor the path that we had set out for our ISA 2040 Strategy. Let us move on to the next slide, please.
With regards to the balance sheet of the company as of June 30th, we can see assets reaching COP 77 billion with a similar level seen in December 2024. Net movements of the asset are because of the advances of the projects, more yields of our concessions, more cash flow because of the executions of the operations of the company, and these were all compensated because of the conversion effect and lower cash and cash equivalents because of the payment of dividends made in May. Liabilities dropped 1% compared to the end of 2024, mainly explained by the amortizations according to the timetable of payments of debts, liabilities with suppliers, and taxes. When it comes to the equity of ISA, at the end of this period reached COP 17.6 trillion, 1% below what we saw in December 2024, and this is because of the dividends decreed in the shareholders' meeting.
This was partially compensated by the profits created in the first half of 2025. Also, the minority interest grew 7% because of the increasing in the results of Brazil and Peru in the semester added to the conversion effect. Next slide, please. With regards to the debt position of the company at the end of June of 2025, we see a consolidated value of COP 34.3 trillion. That is 1% below what we saw at the end of 2024. We have a net movement of the debt of COP 224 billion, explained by disbursements related to the debt paid for the investments plan, plus the amortizations according to the timetable of payments established in the different contracts for financing. The main operations of debt during the first semester are summarized as follows.
First, we have at ISA and at ISA Energía Brasil, a debentures issue made in March for BRL 1.4 billion. We have disbursements of debt at ISA in April for COP 400 billion, net of the amortization of debt scheduled. In terms of debt indicators, we have the gross debt EBITDA of 4.1x , which is within the range suggested by the risk-rating firms for our international rating. In addition, we can highlight a mean life of 9.3 years, which is aligned with the nature of long-term of the concessions of the company. To end this chapter, we are pleased to share with you that Fitch Ratings affirmed the rating of the bond senior at BB+ with a stable outlook. Remember, these are bonds of projects that mature in 2056.
Also, as I discussed early on, Moody's ratified our risk rating as an international issuer with a Baa2 with a stable outlook, confirming again our investment degree. Remember, also, Fitch confirmed this for the first semester of the year. With this now, let's give the floor to Natalia Pineda, who will talk about the roads business. Natalia?
Thank you, Jaime. Good morning, everyone. It's a pleasure for me to talk to you in this earnings call to talk about the business of roads of ISA. ISA has been significantly in this business for more than 15 years, and in 2010, it began with a new business with the acquisition of a company that owned five concessions. ISA began to work in roads in Chile, in a new geography. The business has been growing, consolidating in every strategic cycle.
We grew in Chile, we entered the Colombian market, and recently in Panama, where again, ISA for the first time arrived to a new country with the road business. Next slide, please. Here we will talk about how we see the roads business in the ISA 2040 Strategy. As you are aware, in December of last year, ISA defined its 2040 Strategy. Looking at different businesses and geographies, we say that roads remains in its portfolio in three countries: in Chile, Colombia, and Panama. Roads is the second business of ISA. It adds diversification, profitability, and contributes to meet the strategy. From its conception, it is an enabler of the ISA portfolio. Financially, because it generates profitability with autonomy and capability to provide dividends.
Second, because of its value chain and capabilities shared with other businesses of ISA, and geographically, because of its contribution to the balance between the risks of different countries of the portfolio relations and management with conceders. When it comes to growth, emphasis is in investing in projects that enable the financial capacity of ISA, considering the profitability, liquidity, and caring for our debt. We have set an investment goal that is ambitious, between $2.9 billion and $3.5 billion, which by 2040 is 10% of total CapEx of ISA's investments portfolio. Since this is a business of ISA, it has a purpose, and that is we have developed sustainable corridors in the most extensive term, which is to create value, creating the remain of the business in time, and serving the interest of all of our stakeholders.
We acknowledge the importance of road infrastructure as a key sector for the development of the region. Just to give you an idea, every COP invested in roads returns as COP 1.5 and COP 2.5 of the GDP, COP 1 and COP 2 of salary, and COP 7 and COP 8 in taxes, increasing the competitiveness of countries. In addition, this is a business of low emissions. Of course, we are committed to have an efficient consumption, but we have a relevant contribution to energy transition, because we enable the decarbonization of the transportation sector, which represents 30% of CO2 emissions globally. Of that, three-fourths come from land transportation. Examples, we make efficient trials to decrease the path of vehicles. We have free-flow ports to decrease emissions, enabling the transition to the use of low-emission fuels by implementing infrastructure for supply, like recharging stations for electrical vehicles. Next slide.
Roads, which represents 17% of ISA's portfolio, adds profitability, diversification, and resilience. It is a business model that is similar to the core business of ISA, that is to design, build, operate, and maintain linear infrastructure. That is why we leverage with the existing capabilities of ISA. These are long-term investments in which we have the state as a counterpart with concession contracts under the APP. The principle is the proper distribution of risk between the parties, especially in the roads of ISA. Revenues are guaranteed. In current contracts, governments assume the risk derived from the variations of traffic and tariffs. Also, the projects are financed by the project finance mode, with financial structures without resources from shareholders. One of the major characteristics of our business is that through our roads, lives pass. Honoring our cultural principle that life is first, we commit to take care of them.
Our concessions have an ongoing commitment for road safety. Overall, to give you an idea of our business, the relevant parts are: We began in 2010 when 60% of what we know today as ISA Vías Chile was purchased for $295 million equity value, a company that turned into the growth platform of the roads business, and with its internal cash flows, the 40% remaining of the company was paid. We invested in different complementary agreements, and we invest in projects earned in bids. Ruta del Loa in Chile, Ruta del Este in Panama, and Ruta Orbital Sur in Chile. We create EBITDA, which at the end of 2024, reached $303 million. This growth has allowed us to have a consolidated business.
With this, you have an idea of the business, and let's look at the next slide to have a picture of what it looks like today. ISA Vías is a relevant player in the countries where it operates. In Chile, we're one of the main operators of inter-urban roads. In Colombia, we operate one of the main road concessions of the program of 4G. In Panama, we're the first and sole road concession when it comes to private-public associations. We have a total of 1,100 km of roads, 811 km in operational stages and 296 km in construction stages. I would like to look at the part of construction. We make a lot of maintenance. In Chile, we have four concessions in operation. Ruta del Maipo of 237 km, the main road towards the south from the capital. It connects the cities of Santiago and Talca.
It's the first of our concessions in which we implement the free flow system through which we create the electronic payment of tolls without vehicles having to stop or decrease their speed to pay. Also, we're implementing a new free flow toll with Maipo, with MOP. With this road, all of the tolls will have this free flow system. Second, we have Ruta de la Araucanía, 114 km long, that connects two parts that are important of the country, Collipulli and Temuco. Third, Ruta de los Ríos, 172 km, that has to do with the connectivity of the touristic south of Chile. These two last concessions will end in October and March 2026. Lastly, Ruta del Loa, which was the first greenfield project of roads developed by ISA.
The Sector A of this project of 111 kilometers began operations in July last week, and it's in the Atacama Desert. In Colombia, in operation, we have Ruta Costera, 146 km of the 4G concession of concessions that joins Cartagena and Barranquilla, and La Prosperidad, Socumbelar. Also, we have the del Gran Manglar viaduct. In construction, we have the Ruta Orbital Sur in Chile of 25 km, our first urban concession that connects Acceso Sur to Maipú. It's 100% free flow, and currently, it's in the design stage. The construction will begin in 2028. Also, in Chile, we have to build the section of 25 km of Sector B of Ruta del Loa. Lastly, in Panama, we're building Ruta del Este of 246 km, which as mentioned before, is the first APP project there.
This is the main project execution, and that is why we want to provide you more details in the next screen, please. The project consists in revamping the existing road. It is a project without technical complexity, no environmental risks for ISA, no tolls, no traffic risk, and the construction risks are transferred to the subcontractor under the EPC contract, full back-to-back, in which the subcontractor is in charge of the design and construction. The revenue comes from payments made by the state to Ruta del Este, subject to meeting contractual commitments. The project lasts 18 and a half years. The construction began June 26th, as Jorge has said, and its estimated duration is for 20 months. The operation and maintenance phase will last 180 months, and at the end, there are 10 months for reversion.
The main developments of the project to date are the development of designs, environmental licensing, the work plan, and the sign of the subcontract to execute the construction. The next milestone is the accreditation of financial closure for maximum December 25th of this year. Ruta del Este is meeting 100% of its milestone contractual. I hope this road business information was useful. Now let us give the floor to our CEO for closing remarks.
Thank you, Natalia. I would like to end by highlighting our sound and growing performance. We are still participating with new bids and executing our commitments of investment. So far this year, we have an EBITDA of COP 4.1 trillion, net profit of COP 1.2 trillion. We have responsibly managed our debt, as Jaime said, and we have been ratified with stable outlooks.
We ended the semester with a commitment of investment of COP 28.4 trillion by 2030, and here we saw the 10 most significant projects. We continue advancing with the route of strategy, committed to execute our investment commitments. To end, there is a subsequent event that was published yesterday. This has to do with the situation of the shutdown in Chile. The Superintendencia de Electricidad y Combustibles of Chile yesterday charged the directive council of the national grid and eight electric companies of transmission and generation because of what happened February 25th, 2025. Interchile, a subsidiary, was given two charges. One, for not keeping its facilities in good condition and with proper safety conditions. Second, for remotely reactivating communications equipment without the authorization or knowledge of the national grid coordinator. It was also said that risks can reach $9 million. The superintendence is advancing with its investigations.
Once we have final words, we will let you know. Again, thank you for joining us today. Let us begin our Q&A session.
Thank you, Jorge, and thank you all. Let us begin our Q&A session. Let us begin with the questions made by Andrés Duarte from Corficolombiana. The first question is: could you please clarify the impact and time of the ANEEL measure? How much is retroactive? How much in the quarter and in the future? Details of each, please. Jaime, could you please give us a hand here?
Thank you, Mateo. Thank you, Andrés, for your question. With regards to the retroactive effects, there are none. The effect is only one, and it is the one that we discussed for the second quarter, which are COP 594 billion, with an effect on the net profit of COP 140 billion.
In the future, what can we expect when it comes to causation? Nothing, because we have recorded the causation. The economic event was reflected in the company's balance sheet, and the adjustment made in the cash flow for the three following years or periods, where you can say that what we received for that concept would drop from 1,500 million BRL to 1,200 for each period. That's the effect on cash, Andrés.
Perfect, Jaime. Thank you. Let's continue with the second question from Andrés Duarte as well. Without keeping in mind the RBSE, the profit of the second quarter of 2025 dropped 15.9%, while the EBITDA grew 0.6%. What do you expect in terms of changes for the second quarter?
Thank you, Andrés. Indeed.
In the results, we did not incorporate the special effect that we had last year in July, if you can remember, of the RTP, which had to do with the tariff update in Brazil and this effect of the RBSE was made. But the idea is to keep the positive trend of the operational results of the company that we've shown in previous years, and this is also always the result of the commissioning of projects and factors of the updates made by contractual escalators. So excluding these effects, the trend is the same that we've seen in previous years.
Jaime, thank you for your answer, and thank you, Andrés Duarte, for your question. Next question for Jaime Falquez also from Juan José Muñoz from BTG Pactual. The leverage is at 4x EBITDA debt. Are you comfortable with that? And what do you expect to reduce the leverage?
Give us a minute, please. Okay, Juan José, thank you for your question. Indeed, we are at levels of 4x the EBITDA debt, a level in which we are quite comfortable. We are within the parameters for our investment degree level as an infrastructure company. We hope that this level will remain the same for coming years. What we will be observing in coming years is the projects that we have.
Thank you all. We're sorry, we had a technical failure with this. Let's continue with Jaime, with the question given by Juan José Muñoz on the gross debt indicator that we were talking about beforehand.
Thank you, Mateo, and continuing with the question from Juan José.
Please mute. Please, your mics on mute. Jaime?
Perfect. As I was saying before, how do we feel with that board time-stepped EBITDA level?
I don't know if you heard this, but let me repeat. We feel comfortable. We are within the ranges or levels agreed upon that regulate our international rating, and we hope that this level will remain stable in future years, and it will be a net result from our backlog of investments. But also, while the projects are commissioned, we will have a new EBITDA, new revenue, that will keep the balance of our leveraging structure. In addition, with the effect of the amortization of debts according to our payment timetable. So we feel comfortable, and we will continue seeing this in coming years. Juan José?
Jaime, thank you for your answer. Here are the comments. Gabriel Melguizo provided an answer. Gabriel, could you please discuss again what you said, or do you want us to repeat the questions to you?
Sure, Mateo.
I was trying to inform Eugene that we had the technical glitch, but we can carry on, Mateo. Thank you.
Sure, Gabriel. Okay, let's continue. We have a question from Katherine, and I want to join it with other questions that we received from other analysts. The question of Katherine from Davivienda, from Steffania from Credicorp, and Ricardo Sandoval from Bancolombia. The question is focused on asking for clarifications of the reserves made for Air-e, because in the future, more accounts receivable will be punished. What regulations should ISA follow to provide the service? Gabriel, our power transmission VP, can answer this question.
Mateo, thank you. Thank you, Katherine, Steffania, and Ricardo for your question. To date, we have reserved COP 253 billion, of which COP 150 billion were reserved at the end of 2024, and COP 75 billion in the first quarter of 2025.
It's important to keep in mind, however, that power transmission is a service provided to all users that are connected to the national grid. If the regulation says that the limitation of supplies given to those that do not pay their obligations in the market is suspended by the Superintendence of Public Utilities for companies intervened like Air-e. Still, companies trust that the analysis made by the national government regarding Air-e will solve the problems of this company, and that the ownership mode determined by the Superintendence of Public Utilities at the beginning of January will recover the debt. Lastly, ISA and its companies has been directly managing with institutions, the interventors. To meet the commitments of the debt of everything that has been used since November 2024. Thank you all for your question. Mateo?
Gabriel, thank you for your answer.
Let's continue with another question from Andrés Duarte from Corficolombiana. Could you please provide information on the intervention underway of XM, justifications, and answers? Jorge Carrillo, could you give us a hand with this?
Sure, Mateo. Let me clarify first that we're not within an investigation process or intervention potential. No. It's been mentioned in the media, but far from true. To clarify this, let me give you a context. Firstly, XM is owned by ISA still, due to the transaction in which Ecopetrol began to control ISA. There's an inter-administrative agreement made, which says that there is no unity of direction. Why? Sorry, there's a mic on. Please, everybody mute. What's the purpose here? To guarantee the technical independence and autonomy as a manager of the market, and this has been met fully. What's happening?
Basically, we see people asking the Minister of Mines and Energy regarding resources requested by XM to implement a system to integrate the market, and people are asking about the use of those resources and how it's managed technologically. What we invited XM to do is to provide information transparently and in a timely fashion. We've sat down with the board of ISA and its administration to carry out some audits to provide all of the information as soon as possible. To have a company like XM, to have technical autonomy does not mean that it is not part of the equity of ISA. We've been monitoring this situation closely, and we are looking at the execution of all of our projects to guarantee this transparency.
We have been extremely generous with the Minister of Mines and Energy and with the Comisión de Regulación de Energía y Gas, and we have made announcements and shared information with the Superintendence of Public Utilities and the Contraloría General de la República. We are at peace. We are collaborating to provide the answers, and our call is that we are in a scenario of speculation, and we are waiting for the results of the audits conducted. We will be reporting the results once we have them.
Thank you, Jorge Carrillo. Let us continue with a question from Carlos in Florencia related to the fact that if we could give an update on the investigation of Interchile and what happened in February. Gabriel Melguizo, could you please give us more information of what the CEO just said?
Sure, Mateo Ochoa. Thank you for your question. Jorge Carrillo already talked about this event, but let me say this.
First, we are convinced, as we have heard the national coordinator of Chile, who is the operator of the system there, they have said that this outage and Interchile was not the cause of that massive outage in February 2025. That is very important. Interchile was not part of the cause of the power outage. As we already said, on Monday, August 4, Chile's SEC charged the national grid and eight transmission power companies because of their responsibility for what happened in February. Within this process, the Superintendencia de Electricidad y Combustibles of Chile charged twice Interchile, and we will present our discharges. If the Superintendencia de Electricidad y Combustibles, the SEC, wants to sanction the company, we will resort to other instances so we can defend ourselves. That is what we can complement, Mateo Ochoa.
Again, thank you for your question. Gabriel Melguizo, thank you, and thank you for your question on this matter.
In addition, since we had a chapter on roads, Juan Pablo asks, in the presentation, you manage decarbonization plans. I ask, the electrical charging areas will be given by ISA, or will you have alliances with other companies like Terpel and others? Natalia Pineda, could you help us with this answer?
Juan Pablo, thank you for your question. This gives way to share what we think. In roads, we have stated that we are an enabler of the energy transition for the roads business because we understand the relevance of decarbonizing the road transportation sector. We understand the difficulty of what we should have. First, the vehicles, the infrastructure, and we are making alliances. In Chile, our concession, Ruta del Maipo, for some years had five electrical recharge stations, and today we have nine more. Now we have 14 electrical recharge stations. This is made with allies there.
Yes, users pay for the power they charge, but we place the infrastructure to enable and to have the stations for that recharge. In Colombia, for the coast, we are also making actions to guarantee the electrical mobility. We are seeking alliances currently, and soon we will have news on this matter.
Thank you for your question, Natalia Pineda. Thank you. Perfect. Look, because of time's sake, we will complete this earnings results conference. However, the questions that we have here we did not complete on the chat, those from Nicolas, Juan José Muñoz, Steffania, Ricardo Sandoval, and Katherine. We will get back to you and answer the questions that you sent. Again, thank you for joining us today in this earnings results conference, and this ends our presentation today. Thank you.