September has begun with strong momentum in the financial markets, and the energy sector has been one of the major protagonists. Attention is focused on renewable energy companies, with Solaria, Acciona Energía and Iberdrola leading stock market movements.
“The renewable energy sector in Spain continues to consolidate as one of the main investment opportunities, supported by a combination of geopolitical, economic and technological factors,” states Jon Belda Sánchez, Financial Agent at Generali in Spain.
In dialogue with Strategic Energy Europe, Belda highlights that Solaria has experienced a 10% increase in its share price, driven by the growing role of data centres as major electricity consumers. In addition, UBS has raised the company’s target price to €14.70, recognising the potential of this emerging business.
“The signing of Power Purchase Agreements (PPAs), which set long-term prices, is strengthening the predictability and stability of revenues in the sector. Solaria has taken advantage of this,” explains Belda.
Meanwhile, Acciona Energía is strengthening its balance sheet with an asset rotation strategy that allows it to finance new renewable investments, while Iberdrola consolidates its leadership by modernising distribution networks.
This momentum is also explained by external factors. The war in Ukraine, the reconfiguration of gas supply in Europe and tensions in the Middle East have highlighted the need to reinforce energy independence.
In July, renewables accounted for more than half of national electricity generation, consolidating Spain as a key player in Europe’s energy transition.
“The challenge for investors is to balance defensive positions, such as utilities with regulated networks, with growth bets, such as renewable developers with a strong pipeline,” Belda points out. In this sense, he recommends a diversified, long-term vision, where index funds allow risk to be managed without concentration in a single asset.
Nevertheless, the sector faces significant hurdles. The broker also warns of delays in connection permits, the shortage of skilled labour, and energy price volatility as factors that could slow growth.
Latest share prices (2 September 2025)
| Company | Current price | Comment |
|---|---|---|
| Solaria (SLR) | €13.24 | Pulls back from recent highs of €14.32. |
| Acciona (ANA) | €167.70 | Remains stable with a slight upward trend. |
| Acciona Energía (ANE) | €29.10 | Performs in line with the sector, reinforced by asset rotation. |
| Iberdrola (IBE) | €15.92 | Slight decline compared with the previous close of €16.08. |
| Endesa (ELE) | €18.35 | Stable following the announcement of new grid investments. |
| Naturgy (NTGY) | €25.47 | Slight pullback linked to volatility in gas and LNG. |
“Energy is at the heart of the current economic and geopolitical transformation. Spain, due to its strength in renewables, has a unique opportunity,” says Belda. For investors, the message is clear: this is not a passing trend, but a strategic pillar for the future. The key lies in combining stability and growth in a sector that is already shaping the course of Europe’s energy transition.
