Finance

Iberdrola, Endesa, Naturgy agree to seek extension of Almaraz nuclear plant, sources say

Published by Global Banking & Finance Review

Posted on October 21, 2025

2 min read

· Last updated: January 21, 2026

Add as preferred source on Google
Iberdrola, Endesa, Naturgy agree to seek extension of Almaraz nuclear plant, sources say
Global Banking & Finance Awards 2026 — Call for Entries

By Pietro Lombardi MADRID (Reuters) -Spanish energy companies Iberdrola, Endesa and Naturgy agreed to seek an extension of the Almaraz nuclear plant's lifespan and are working on a formal request to

Iberdrola, Endesa, and Naturgy Pursue Extension for Almaraz Nuclear Plant

By Pietro Lombardi

MADRID (Reuters) -Spanish energy companies Iberdrola, Endesa and Naturgy agreed to seek an extension of the Almaraz nuclear plant's lifespan and are working on a formal request to the Energy Ministry, two people familiar with the process said on Tuesday.

A major blackout in April revived the debate over nuclear power in the country, which plans to close all of its nuclear reactors by 2035.

Under the existing plan, the phase-out will start in 2027 with the closure of the first reactor at the Almaraz plant in western Spain. The plant's second reactor is set to shut down the following year.

The three companies own the Almaraz plant, with Iberdrola controlling a stake of almost 53%, followed by Endesa's 36% and Naturgy's roughly 11%.

They all declined to comment.

Previously, all three have expressed their support of a review of the nuclear phase-out calendar.

Iberdrola and Endesa, controlled by Italian energy giant Enel, are the largest owners of Spain's nuclear fleet, with Naturgy and EDP holding minority stakes in some plants.

The fiscal framework for nuclear energy has been a key issue. The industry has repeatedly urged policymakers to lower taxes, which they blame for hindering the plants' ability to compete.

The government has set some conditions to open a discussion over the review, namely that it guarantees security of supply, safety and that it does not burden taxpayers.

(Reporting by Pietro LombardiEditing by Tomasz Janowski)

Key Takeaways

  • Iberdrola, Endesa, and Naturgy seek to extend Almaraz plant's lifespan.
  • Spain plans to phase out nuclear reactors by 2035.
  • The Almaraz plant's first reactor is set to close in 2027.
  • Energy companies are negotiating with the Energy Ministry.
  • Fiscal policies and taxes are central to the nuclear debate.

Frequently Asked Questions

What is nuclear energy?
Nuclear energy is the energy released during nuclear fission or fusion, especially when used to generate electricity. It is a low-carbon energy source that can help reduce greenhouse gas emissions.
What is energy market?
The energy market is a marketplace where energy commodities are traded. This includes electricity, natural gas, and renewable energy sources, allowing buyers and sellers to negotiate prices and contracts.
What is sustainability?
Sustainability refers to the ability to meet current needs without compromising the ability of future generations to meet theirs. It encompasses environmental, social, and economic dimensions.
What is investment?
Investment is the act of allocating resources, usually money, in order to generate income or profit. It can involve purchasing assets such as stocks, bonds, or real estate.
What is a financial community?
A financial community consists of individuals and organizations involved in the finance sector, including banks, investors, and regulatory bodies, working together to facilitate economic transactions.

Tags

Related Articles

More from Finance

Explore more articles in the Finance category