Iberdrola's Q1 2026 Spanish Nuclear Generation Nearly Double Its Onshore Wind Output

en.Wedoany.com Reported - Iberdrola has released its first-quarter 2026 results: adjusted net profit of €1.865 billion, up 11% year-on-year; the company has also raised its full-year outlook, expecting adjusted net profit growth of over 8% by the end of the fiscal year. During the reporting period (January to March), Iberdrola's nuclear generation in Spain stood at 5,464 GWh, nearly double its onshore wind output (2,822 GWh).

Iberdrola announced investments of €14.5 billion over the past twelve months, including €2.7 billion in the first quarter of 2026.

Of the €2.7 billion invested in the quarter, only €507 million (19%) was directed to the Iberian Peninsula; the UK received €912 million, the US received €548 million, Brazil received over €300 million, with the remaining investments distributed across Australia and other EU regions.

Over the past twelve months, Iberdrola's installed generation capacity increased by 3,300 MW, with nearly 60% coming from onshore and offshore wind. In mainland Spain, the company added 256 MW of grid-connected wind, 276 MW of solar PV, and 173 MW of storage.

Against the backdrop of continued growth in renewable installed capacity, nuclear power remains Iberdrola's primary generation source in Spain. For the full year 2025, the company's generation at the Cofrentes, Almaraz, Trillo, Ascó, and Vandellós nuclear plants totaled 21,507 GWh, while its wind farms generated 9,696 GWh, with nuclear output roughly double that of wind. In the first quarter of 2026, this comparison remains similar: nuclear generation of 5,464 GWh versus onshore wind generation of 2,822 GWh. Iberdrola recorded a net profit of €6.285 billion in fiscal year 2025.

The company, chaired by José Ignacio Sánchez Galán, holds stakes in all operational nuclear plants in Spain: 100% ownership of the Cofrentes plant, 52.6% of Almaraz, 49% of Trillo, 28% of Vandellós, and 15% of Ascó II.

The Spanish government established a levy on large energy companies in 2022, applying a 1.2% tax on turnover for energy firms with annual revenues exceeding €1 billion, with regulated businesses, activities outside Spain, and operations outside the peninsula excluded from the tax base. Iberdrola opposes this levy. When Congress voted on extending the tax, the People's Party (PP), Vox, Junts, the Basque Nationalist Party (PNV), and the Navarrese People's Union (UPN) voted against, and the extension was not approved. Days before the vote, four power companies—Iberdrola, Endesa, Naturgy, and EDP—along with four oil companies—Repsol, BP, TotalEnergies, and Moeve (formerly Cepsa)—issued a joint statement saying they would freeze €30 billion in investments in Spain.

Iberdrola's major shareholders include Qatar's sovereign wealth fund, the Qatar Investment Authority, US fund BlackRock, and Norwegian public bank Norges.