Report published August 28, 2026
Bernstein European Utilities Daily: Data Center Power Demand, PPA Regulations & Clean Energy (August 28, 2026)
Source and citation context
- Issuer
- Bernstein
- Report date
- August 28, 2026
- Analysis as of
- August 27, 2026
Authors / editors: Jorge Alonso Suils, Bartlomiej Kubicki, Thibault Dujardin, Rory Graham-Watson, Ken-Ree Choong
Finvaulta summarizes Bernstein's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Bernstein's European Utilities Daily recaps daily headlines including Voltalia's $35bn Brazil data center approval, Spain's 80% hourly renewable mandate for data centers, and Fortum's Swedish nuclear state aid application. It also provides current valuation multiples and ratings for European utilities.
Key Takeaways
- 1.Spain's government published draft legislation requiring future data center operators to guarantee on an hourly basis that at least 80% of their electricity is renewable via self-consumption or 10-year PPAs.
- 2.Voltalia won authorization for a $35.24bn (BRL 181.7bn) mega data center project at the Pecem port complex in Ceara, Brazil, which includes wind/solar capacity expansion and tax exemptions.
- 3.Fortum's NuCore Energi submitted a state aid application to the Swedish government to negotiate financing frameworks (state loans, 2-way CfD, risk-sharing) for a potential 1.2-3.4GW nuclear plant at Oskarshamn.
Table of Contents
- FEATURED RECENT RESEARCH
- HEADLINES
- FRANCE
- IBERIA
- NORDICS
- UK
- PAN & OTHER EUROPE
- RESEARCH & MODEL LIBRARY
- MARKETING DECKS
- REGULATED NETWORKS PRIMER SERIES
- PM CHEAT SHEETS
- BLACKBOOKS
- FUNDAMENTAL NOTES/RECENT RESEARCH
- COMMENTS/QUICK TAKES
- BERNSTEIN TICKER TABLE
- DISCLOSURE APPENDIX
Report data
BERNSTEIN TICKER TABLE — as of August 27, 2026.
| Metric | Estimate | Context |
|---|---|---|
| Voltalia Brazil data center planned investment | 35.24 USD Billion | Investment in the planned data center at the Pecem port complex in Ceara state (BRL 181.7bn). |
| Spain annual average free ETS allowances | 38.1 Million allowances | Spain allocated free GHG allowances to 664 installations, valued at ~€3bn/year. |
| NuCore proposed Swedish nuclear plant capacity | 1.2-3.4 GW | Potential newbuild nuclear plant at Oskarshamn. |
| Nordic power demand expected growth from data centres | 40.0% | Expected rise in Nordic power demand spurring battery storage profitability. |
| Lost EU renewable output due to grid and storage constraints | 10.0 TWh | Curtailments flagged by Ursula von der Leyen as unacceptable. |
Document Preview
Access the Full Report
Get unlimited access to institutional research reports. Create an account to get started.
Authors / Editors
Reported Data Context
- Voltalia Brazil data center planned investment: 35.24 USD Billion · Source: Reuters
- Spain annual average free ETS allowances: 38.1 Million allowances (2026-2030) · Source: Platts
- NuCore proposed Swedish nuclear plant capacity: 1.2-3.4 GW · Source: Platts
- Nordic power demand expected growth from data centres: 40.0 % · Source: Montel
- Lost EU renewable output due to grid and storage constraints: 10.0 TWh · Source: Platts