EDP

EDP (Energias de Portugal) is Portugal's dominant integrated energy company and one of the largest utilities in the Iberian Peninsula, with generation, distribution, and retail operations in Portugal, Spain, Brazil, and the United States. EDP operates a mix of hydroelectric, wind, solar, and gas-fired generation assets and is listed on Euronext Lisbon. In the context of the April 2025 Iberian blackout, EDP denies any operational responsibility, stating that its Soto de Ribera combined-cycle gas plant in Spain "was not even scheduled to be operating" at the time of the blackout .

EDP was founded as a state-owned entity in 1976 and progressively privatised from 1997. China Three Gorges Corporation (CTG) is the largest single shareholder with approximately 19% of the company. EDP reported revenues of approximately EUR 15 billion in 2024 and operates around 28 GW of installed capacity globally. Its Spanish subsidiary EDP España operates gas-fired and renewable plants in Spain, including the Soto de Ribera combined-cycle plant in Asturias.

EDP's public denial of any blackout role differentiates its legal posture from that of the Spanish entities under CNMC investigation. As a Portuguese company whose Spanish plant was reportedly offline, EDP is asserting it falls outside the scope of CNMC's findings on "violations that went on for long periods". The cross-border dimension of the blackout — involving both Spanish and Portuguese grid assets — makes EDP's denial a key variable in assigning causal responsibility, a question that will take 9-18 months of proceedings to resolve.