Billionaire José Elías on Aragon’s economic and energy policies: “You have vision”

Billionaire José Elías, the largest shareholder in Audax Renovables, has praised the great efforts being made by the Government of Aragon in terms of economic and energy policies, using the region as an example of a model to follow in Spain. 

The well-known businessman, who is in the top 50 on the Forbes List with over €1 billion in assets, reflected this during the discussion he held towards the end of the first day of The Wave 2025 with the President of Aragon, Jorge Azcón. 

ARAGON AS AN EXAMPLE

Both, questioned by the virtual assistant of the technological forum (Wavy), have debated the present and future impact of Artificial Intelligence and the key role of renewable energies around economic development. 

Elías was blunt in stating that the energy crisis in Europe arising from the outbreak of the Ukrainian War has highlighted the shortcomings in the management of the energy sector at the state level, but he emphasized that Aragon is taking advantage of the opportunity, which is now being reflected in a significant number of investments by large companies.

“ You’ve had vision. Spain faces a national energy challenge with very poorly managed borders. Aragon has seen the opportunity,” noted the manager of Audax Renovables. “When energy prices rise, everything rises. Everything is affected to a greater or lesser extent. Pensions, healthcare, and education all come from somewhere. To have a quality society, we have to fill the coffers. And one very easy way is by generating cheap energy so that those who depend on energy come and spend it in this country,” Elías argued.

Azcón echoed this view and emphasized once again that the combination of technology and energy is “the key to success in Aragon,” as it increases productivity and attracts new business projects. “Renewable energy has brought us cheap, safe, and abundant energy. Data center-based technology consumes large amounts of energy,” stated the DGA leader.

He himself added that ” we must know where to put the oxen and the carts.” “If we create many jobs and a lot of wealth, we will be able to offer good public services. It’s important to have a clear order of the factors in the equation. The economy is what makes public administration work,” the president argued.

THE REVOLUTION AND CHALLENGE OF AI

The two also discussed the impact of Artificial Intelligence, a phenomenon that already represents an unprecedented transformation. “AI is here to stay. Its impact will be more disruptive in businesses than in public administrations, but it will generate excessively rapid changes. Some will retrain, but others will be left behind,” warned Elías, who also emphasized that AI “unfortunately” is here to stay.

Azcón, for his part, compared the AI ​​revolution to the arrival of fire: “We’re not yet aware of the change that’s coming. It won’t be comparable to any previous revolution,” he asserted. A few days ago, former Spanish Prime Minister José María Aznar made the same point. 

Along these lines, and under the watchful eyes of those in the Congress Palace Auditorium, the renowned businessman revealed that he already uses AI in his daily work, even to make decisions at the corporate level. “I’ll share with you the company’s Board of Directors regulations and the situation I’m facing, and I ask you to suggest a solution. On one occasion, you’ve even changed the decision I was going to make,” Elías admitted. 

OTHER MATTERS

Beyond technology and energy, José Elías reflected on the challenges of entrepreneurship in Spain and the need for forward-thinking leadership. “We need people with a strong position. I miss long-term political commitments. The common good comes before political gains,” the Catalan businessman noted, also lamenting the missed opportunities. “If we are able to produce and have cheap energy, that is the solution. We are doing it wrong,” he emphasized.