Latest news with #Endesa
Reuters
3 hours ago
- Business
- Reuters
Spanish minister says private power firms slow to share information in blackout probe
MADRID, June 10 (Reuters) - Spain's Energy Minister Sara Aagesen urged private electricity companies to speed up sharing information needed to identify the causes of the worst ever blackout to hit Spain and Portugal. More than a month after one of Europe's biggest electricity system collapses left around 60 million people in the two countries without power, the cause has yet to be determined and the blame game has intensified. "At the beginning, when we requested information, it arrived very quickly," Aagesen told reporters from Nice, France, where she was attending a U.N. conference. "Now we're in a situation where information arrives in dribs and drabs, much more slowly." She acknowledged though that the information required was now more detailed and, at times, more complex. "But I insist, I continue to call for this information to be delivered as soon as possible so we can identify the causes and implement the necessary measures," she said. Spain's energy ministry is leading one of the probes looking into the April 28 events, which sent investigators from the country's cybersecurity and intelligence services to private energy companies' premises to gather information. An energy ministry spokesperson declined to comment when asked about what information Aagesen was referring to. Utility lobby Aelec, which represents Spain's main electricity companies including Iberdrola ( opens new tab and Endesa ( opens new tab, did not immediately reply to a request for comment. Last week, it said private companies have been cooperating with the investigations. "It is absolutely false that they are withholding information or delaying their responses to requests related to the recent blackout," it said at the time. The European network of transmission system operators ENTSO-E has also launched an inquiry, while a Spanish court is investigating whether a cyber attack caused the blackout. Spanish lawmakers are conducting separate probes. Spanish grid operator Red Electrica insists the transmission grid it manages was working without issues before the blackout. Beatriz Corredor, the chair of its parent company Redeia, last week blamed some conventional power plants, which include nuclear, combined cycles and hydroelectric plants, for failing to help maintain an appropriate voltage level in the power system that day. Corredor stopped short of saying this caused the blackout. Investigators are examining excessive voltage on the grid as one possible cause for the loss of generation. Aelec said Corredor's comments sowed confusion and obstructed an objective technical analysis.
Bloomberg
29-05-2025
- Business
- Bloomberg
Spain's Iberdrola, Endesa Aim to Extend Nuclear Plant Lifespan
Spain's three largest utilities are working on a proposal to extend the lifespan of the country's biggest nuclear power plant, whose reactors are slated to be shut down in 2027 and 2028. Iberdrola SA, Endesa SA and Naturgy Energy Group SA are seeking to postpone the planned closing of the Almaraz facility until 2030, Endesa Chief Executive Officer Jose Bogas said Thursday.
Trade Arabia
15-05-2025
- Business
- Trade Arabia
TAQA Group reports Q1 revenue of $ 3.87bn, up 3.8%
Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utilities companies in Europe, the Middle East and Africa, has delivered a 3.8% year-on-year revenue growth, reaching AED 14.2 billion ($3.87 billion) during the first quarter of this year. The growth is primarily driven by higher pass-through items in Transmission and Distribution (T&D). While TAQA reported topline growth, EBITDA declined by 6.7% to AED5.3 billion and net income fell by 1.5% to AED2.1 billion. This decrease reflects a combination of ongoing commodity market volatility and a declining production profile in Oil and Gas. Despite these headwinds, the stable performance of TAQA's core utilities business continued to provide support for the group's overall results, the company said. Through its leading stake in Masdar, TAQA made significant strides in expanding its global renewables portfolio in Q1. Masdar's Saeta Yield platform acquired the 243 MW Valle Solar project in Spain. Also, in Spain, Masdar reached an agreement to acquire a 49.99% stake in four of Endesa S.A.'s solar assets, totaling 446 MW, pending regulatory approvals. Additionally, Masdar is developing the world's first giga-scale 'round-the-clock' renewables project in Abu Dhabi, combining 5.2 GW of solar capacity with 19 GWh of battery storage to deliver 1 GW of continuous clean energy. Following the quarter's end, TAQA continued its momentum with several landmark developments that form part of a broader effort to build a smarter, more integrated energy system. In April, TAQA and Emirates Water and Electricity Company (EWEC) announced the signing of a major power purchase agreement for the 1 GW Al Dhafra Thermal plant alongside major investments in new grid infrastructure. These projects are being developed in parallel to Masdar's 'round-the-clock' initiative and all of them together will play a key role in providing the power needed to advance the UAE's AI Strategy for 2031. The Al Dhafra Thermal plant will provide efficient, flexible and easily dispatchable capacity and will be fully owned and operated by TAQA. TAQA Transmission will integrate the additional gas and renewables capacity into the grid with state-of-the-art transmission infrastructure that will deliver the energy and stability required for high- performance computing and other advanced digital infrastructure. Combined, these projects will require investment of around AED 36 billion in the coming years. TAQA Transmission took another significant step in expanding its international presence by acquiring Transmission Investment (TI), a leading UK-based energy and utility investment platform. TI is one of the UK's largest players operating offshore transmission (OFTO) assets connecting offshore wind farms to the grid and is a key player in the development, construction and operation of subsea interconnectors. This acquisition strengthens TAQA's global footprint and reinforces its commitment to enabling the energy transition with critical infrastructure that supports sustainable growth. Jasim Husain Thabet, Group Chief Executive Officer and Managing Director of TAQA, said: 'Our first-quarter performance demonstrates the resilience of our core utilities business and shows that we are continuing to make progress in the successful delivery of our growth strategy. TAQA delivered solid revenue growth and has laid strong foundations for the remainder of 2025.
Zawya
15-05-2025
- Business
- Zawya
TAQA Group reports revenue of AED 14.2bln for Q1 2025
Net income for Q1 decreased by 1.5% year-on-year, demonstrating resilience amidst commodity price volatility and a decline in oil and gas production TAQA Board approves Q1 interim dividend of 0.75 fils per share Group accelerates international renewables growth through Masdar and prepares to power AI in the UAE Abu Dhabi, UAE: Abu Dhabi National Energy Company PJSC ('TAQA' or 'the Group'), one of the largest listed integrated utilities companies in Europe, the Middle East and Africa, has reported its earnings for the three-month period ending 31 March 2025. TAQA delivered a 3.8% year-on-year revenue growth, reaching AED 14.2 billion, primarily driven by higher pass-through items in Transmission and Distribution (T&D). While TAQA reported topline growth, EBITDA declined by 6.7% to AED 5.3 billion and net income fell by 1.5% to AED 2.1 billion. This decrease reflects a combination of ongoing commodity market volatility and a declining production profile in Oil and Gas. Despite these headwinds, the stable performance of TAQA's core utilities business continued to provide support for the Group's overall results. Through its leading stake in Masdar, TAQA made significant strides in expanding its global renewables portfolio in Q1. Masdar's Saeta Yield platform acquired the 243 MW Valle Solar project in Spain. Also, in Spain, Masdar reached an agreement to acquire a 49.99% stake in four of Endesa S.A.'s solar assets, totaling 446 MW, pending regulatory approvals. Additionally, Masdar is developing the world's first giga-scale 'round-the-clock' renewables project in Abu Dhabi, combining 5.2 GW of solar capacity with 19 GWh of battery storage to deliver 1 GW of continuous clean energy. Following the quarter's end, TAQA continued its momentum with several landmark developments that form part of a broader effort to build a smarter, more integrated energy system. In April, TAQA and Emirates Water and Electricity Company (EWEC) announced the signing of a major power purchase agreement for the 1 GW Al Dhafra Thermal plant alongside major investments in new grid infrastructure. These projects are being developed in parallel to Masdar's 'round-the-clock' initiative and all of them together will play a key role in providing the power needed to advance the UAE's AI Strategy for 2031. The Al Dhafra Thermal plant will provide efficient, flexible and easily dispatchable capacity and will be fully owned and operated by TAQA. TAQA Transmission will integrate the additional gas and renewables capacity into the grid with state-of-the-art transmission infrastructure that will deliver the energy and stability required for high-performance computing and other advanced digital infrastructure. Combined, these projects will require investment of around AED 36 billion in the coming years. TAQA Transmission took another significant step in expanding its international presence by acquiring Transmission Investment (TI), a leading UK-based energy and utility investment platform. TI is one of the UK's largest players operating offshore transmission (OFTO) assets connecting offshore wind farms to the grid and is a key player in the development, construction and operation of subsea interconnectors. This acquisition strengthens TAQA's global footprint and reinforces its commitment to enabling the energy transition with critical infrastructure that supports sustainable growth. Jasim Husain Thabet, Group Chief Executive Officer and Managing Director of TAQA, said: 'Our first-quarter performance demonstrates the resilience of our core utilities business and shows that we are continuing to make progress in the successful delivery of our growth strategy. TAQA delivered solid revenue growth and has laid strong foundations for the remainder of 2025. "TAQA's leadership in the global low-carbon transition is reinforced by our continued expansion in renewables through Masdar and key international acquisitions. With a strong balance sheet, robust cash flow, and a clear roadmap aligned with both national and global energy goals, we are well-positioned to drive sustainable growth and create long-term value for our stakeholders.' Business unit performance – Q1 2025 T&D reported combined revenues of AED 9.1 billion, EBITDA of AED 2.4 billion, and net profit of AED 1.4 billion. Meanwhile, TAQA's Generation business delivered revenues of AED 2.9 billion, with EBITDA of AED 1.7 billion, and net profit of AED 238 million. TAQA Water Solutions saw revenues of AED 636 million, EBITDA of AED 397 million, and net profit of AED 167 million. In Oil and Gas, revenues were AED 1.5 billion, EBITDA stood at AED 546 million, and net profit was AED 347 million. For media enquiries, please contact ( For investor enquiries, please contact (ir@ About TAQA Established in 2005, TAQA is a diversified utilities and energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA). TAQA has significant investments in power and water generation, water treatment and reuse, transmission and distribution assets, as well as upstream and midstream oil and gas operations. TAQA owns or manages assets in 25 countries. For more information, please visit: and follow us @TAQAGroup on LinkedIn, Twitter, Instagram and YouTube.
Business Wire
07-05-2025
- Business
- Business Wire
1st Quarter Results
MADRID--( BUSINESS WIRE )-- Borja Acha Besga Secretary of the Board of Directors Madrid, 28 March 2025 OTHER RELEVANT INFORMATION In accordance with the provisions of Article 227 of the Spanish Securities Market Act, Endesa, S.A. hereby issues the Annual General Shareholders' Meeting notice and proposed resolutions: This English-language version has been translated from the original issued in Spanish by the entity itself and under its sole responsibility and is not considered official or regulat...
