Published by Global Banking & Finance Review®
Posted on February 23, 2026
2 min readLast updated: April 2, 2026
Add as preferred source on GoogleEnel’s $63B plan channels €26B into grids by 2028, with about 21% for Spain via Endesa. The boost follows the April 28, 2025 blackout as CNMC fixes a 6.58% grid return, below utilities’ >7% push.
MADRID, Feb 23 (Reuters) - Spanish power utility Endesa is set to increase investments in Spanish power grids as part of Italian parent company Enel's $63 billion investment plan.
The increase would come at a sensitive time in Spain. A massive blackout that hit Spain and Portugal on April 28 reignited the debate about investment needs in the country's power networks and the return on such investments.
Enel said on Monday it plans to invest some 26 billion euros ($31 billion) in power grids through 2028. Of this, roughly 21%, or about 5.5 billion euros, is earmarked for Spain, where it operates through Endesa, according to a presentation of the plan.
This would be a significant increase compared with the roughly 4 billion euros Endesa previously allocated to invest in this business under a plan that it will update on Tuesday.
Spain's competition watchdog recently set the financial return for power grid activities at 6.58% for the coming years, saying it sought to balance network investment needs with consumer protection.
This is well below the more than 7% Spanish power utilities - including Endesa - have called for.
($1 = 0.8480 euros)
(Reporting by Pietro Lombardi, Editing by Louise Heavens)
Enel’s $63 billion investment plan and its impact on Endesa’s grid spending in Spain, including a larger allocation to electricity networks through 2028.
Enel plans €26B for grids through 2028, with roughly 21%—about €5.5B—earmarked for Spain via Endesa, up from a prior ~€4B plan.
Spain’s regulator CNMC set the financial return for grid activities at 6.58% for 2026–2031, below the >7% level sought by utilities.
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