[SMM Flash News] PNE AG Sells 25.2 MW Bokel Wind Farm to Union Investment Fund

Iberdrola SA reported a €1.87 billion adjusted net profit for Q1 2026, marking an 11.4% increase year-on-year, primarily fueled by robust growth in regulated networks and an increased stake in its Brazilian subsidiary, Neoenergia. While group revenue remained stable at €12.02 billion, adjusted EBITDA grew 2.4% to €4.07 billion, benefiting from the consolidation of UK operator Electricity North West (ENW). Conversely, the electricity production and customers division saw a 3.2% dip in adjusted EBITDA to €2.02 billion, as increased output in Europe and the UK was offset by non-recurring ancillary service costs in the Iberian market and a tough year-on-year comparison in the US.

Spanish energy major Repsol reported an adjusted net loss of €4 million for its low carbon generation unit in Q1 2026, a sharp reversal from the €2 million profit recorded a year earlier. While total electricity generation surged 57.4% to 3.35 TWh—supported by new wind and solar assets and increased gas-fired output—operating income for the division fell 50% year-on-year to €12 million. This decline was primarily driven by a 49.7% drop in Spanish wholesale electricity prices, which averaged €43.3/MWh during the quarter due to exceptional rainfall. Despite the Renewables segment’s operating income falling by €18 million, the group's overall adjusted EBITDA for the unit managed a slight 1.9% increase to €53 million.