Published by Global Banking & Finance Review®
Posted on October 21, 2025
2 min readLast updated: January 21, 2026
Iberdrola, Endesa, and Naturgy are pursuing an extension for the Almaraz nuclear plant, challenging Spain's plan to phase out nuclear power by 2035.
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)
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.
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.
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.
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.
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.
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