Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Finance > Granada substation power loss pinpointed as ground zero of Spain's blackout
    Finance

    Granada substation power loss pinpointed as ground zero of Spain's blackout

    Granada substation power loss pinpointed as ground zero of Spain's blackout

    Published by Global Banking and Finance Review

    Posted on May 14, 2025

    Featured image for article about Finance

    By Pietro Lombardi

    MADRID (Reuters) - An abrupt loss of power generation at a substation in Granada, followed by failures seconds later in Badajoz and Seville, triggered an unprecedented blackout across Spain and Portugal on April 28, Spain's energy minister said on Wednesday.

    Sara Aagesen told lawmakers that the three initial incidents, whose cause has yet to be determined, led to a generation loss of 2.2 gigawatts of electricity, which triggered a series of grid disconnections.

    Several investigations are looking into the power outage, but it is the first time Spanish authorities have pointed to a specific origin. Establishing the cause of the outage will take time and there will likely be no simple answers to what appears to be a complex issue, Aagesen said.

    "We are analysing millions of pieces of data. We also continue to make progress in identifying where these generation losses occurred and we already know that they started in Granada, Badajoz and Seville," Aagesen said.

    A spokesperson for grid operator REE said Spain's main transmission grid had no incidents on April 28 before the blackout, and the power loss "occurred due to causes outside" the grid, possibly at generation plants themselves or in smaller grids not managed by REE.

    The government's investigation is also looking at reports by operators of volatility in the days before the blackout and is examining excessive voltage as one possible cause for the loss of generation, according to Aagesen.

    Investigators, Aagesen said, had ruled out any cyberattack on REE's grid, an imbalance in supply and demand or insufficient grid capacity.

    She also denied suggestions by some opposition lawmakers that the government had received and ignored warnings from experts that a major blackout could occur, adding that it would be premature to attribute responsibilities until it's known what happened that day.

    "There was no alert, no warning," she said.

    Spain's use of renewable energy as an increasing part of its electricity generation has come under scrutiny since the blackout, as has its plan to phase out nuclear energy by 2035.

    Critics have said that one possible contributor to the outage may have been a lack of so-called "grid inertia" because of the relatively small share of nuclear and fossil fuel generation in Spain's power mix.

    Aagesen defended the government's energy policy, saying that renewables have lowered bills for households and businesses and will allow Spain to attract more investment while providing more energy autonomy at a time of geopolitical instability.

    Spain's electricity system continues to use the same level of renewables as it did before and during the outage, she said.

    "A mix with more renewables reduces external risks. It enables us to anticipate, adapt to, and respond quickly to any eventuality."

    Aagesen signalled openness to extending the life of nuclear plants, but only if operators could guarantee their security and acceptable prices for consumers, and if this could be shown to contribute to security of supply.

    (Reporting by Pietro Lombardi. Writing by Charlie Devereux. Editing by Mark Heinrich, Elaine Hardcastle and Mark Potter)

    Related Posts
    Ukraine says it hit Russian oil rig, patrol ship in Caspian Sea
    Ukraine says it hit Russian oil rig, patrol ship in Caspian Sea
    EU Council backs digital euro with both online and offline functionality
    EU Council backs digital euro with both online and offline functionality
    IMF welcomes EU's 90 billion euro loan to Ukraine, more work to be done
    IMF welcomes EU's 90 billion euro loan to Ukraine, more work to be done
    Euro zone consumer confidence falls to -14.6 in December
    Euro zone consumer confidence falls to -14.6 in December
    Musk wins appeal that restores 2018 Tesla pay deal now worth about $139 billion
    Musk wins appeal that restores 2018 Tesla pay deal now worth about $139 billion
    Germany removes dividend ban for Uniper, paving way for IPO
    Germany removes dividend ban for Uniper, paving way for IPO
    Golden Goose gets new majority owner as China's HSG buys stake from Permira
    Golden Goose gets new majority owner as China's HSG buys stake from Permira
    Rubio says not concerned about escalation with Russia over Venezuela
    Rubio says not concerned about escalation with Russia over Venezuela
    ECB's Escriva expects monetary policy to remain steady
    ECB's Escriva expects monetary policy to remain steady
    French government to appeal court ruling on Shein
    French government to appeal court ruling on Shein
    Russian central bank governor Nabiullina speaks after rate cut
    Russian central bank governor Nabiullina speaks after rate cut
    Strategy and bitcoin-buying firms face wider exclusion from stock indexes
    Strategy and bitcoin-buying firms face wider exclusion from stock indexes

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    More from Finance

    Explore more articles in the Finance category

    Carnival Corp sees strong annual profit, resumes dividend as bookings rise

    Carnival Corp sees strong annual profit, resumes dividend as bookings rise

    London's FTSE 100 climbs as miners, defence outperform in data-heavy week

    London's FTSE 100 climbs as miners, defence outperform in data-heavy week

    Italy sells digital payment unit PagoPA to Poste, state mint for up to 500 million euros

    Italy sells digital payment unit PagoPA to Poste, state mint for up to 500 million euros

    Court in Brazil's Minas Gerais slaps down Nestle copyright lawsuit

    Court in Brazil's Minas Gerais slaps down Nestle copyright lawsuit

    German court jails man for drugging, raping wife, posting assaults online

    German court jails man for drugging, raping wife, posting assaults online

    UniCredit issues its first tokenised structured note

    UniCredit issues its first tokenised structured note

    UK competition watchdog to probe AB Foods' Hovis purchase

    UK competition watchdog to probe AB Foods' Hovis purchase

    Trump said he has no bigger healthcare plans: Obamacare will 'repeal itself'

    Trump said he has no bigger healthcare plans: Obamacare will 'repeal itself'

    Analysis-Spanish consumer credit hits near 18-year high on economic boom

    Analysis-Spanish consumer credit hits near 18-year high on economic boom

    NATO sees positive signs Czech ammunition scheme for Kyiv may continue

    NATO sees positive signs Czech ammunition scheme for Kyiv may continue

    Maersk tests Red Sea route as Gaza ceasefire offers hope

    Maersk tests Red Sea route as Gaza ceasefire offers hope

    Russia's tax proceeds from oil may fall in January to the lowest since 2022, Reuters calculations show

    Russia's tax proceeds from oil may fall in January to the lowest since 2022, Reuters calculations show

    View All Finance Posts
    Previous Finance PostHolcim shareholders approve spinoff, grumble over chairman's pay
    Next Finance PostUK investigates porn site operator Kick under online safety law