GS Utilities Daily Spain calls for EU levy on gas & oil profits for climate fund Vestas secures 50 MW orders in Germany

Equity Research 4 September 2026 | 8:50AM CEST

GS Utilities Daily: Spain calls for EU levy on gas & oil profits for climate fund // Vestas secures 50 MW orders in Germany

Alberto Gandolfi | Goldman Sachs Bank Europe SE - Milan branch

Ajay Patel | Goldman Sachs International

Mafalda Pombeiro | Goldman Sachs International

Dhwani Khenwar | Goldman Sachs India SPL

Lawrence Lavizani | Goldman Sachs International

Liam Brueckner | Goldman Sachs International

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Goldman Sachs GS Utilities Daily

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Spain calls for EU levy on gas & oil profits for climate fund

Spain has called on the EU to establish a climate adaptation fund which would be financed through a tax on oil and gas profits to protect member states against increasingly extreme climate events. It is estimated, according to press, that the sustained heat in Europe this summer could cost at least €50 bn. The measure will be discussed at informal meeting later in September. Source: FT

Vestas secures 50 MW orders in Germany

Vestas has secured a 50MW order from European Energy Deutschland for the Wulfshagen repowering project in Germany. The order includes eight V162-6.2 MW turbines along with 20-year service agreements. The delivery is planned to begin in Q1 2027, with commissioning scheduled to begin in Q4 2027. Source: Press Release

Other news US Data Centers: California’s lawmakers passed a package of bills establishing specialized electricity rates for large-scale data centers. Operators will be required to fully fund their own power generation, transmission infrastructure upgrades, and grid maintenance costs, as well as complete environmental impact reports and publicly disclose their water and energy consumption. (DataCenterdynamics)

Danish onshore wind: A group of Danish onshore renewable energy developers has initiated a legal challenge with the European Commission over the design of Denmark’s upcoming offshore wind tenders and Contract for Difference (CfD) support schemes. The timeline for the hearing of the case remains to be determined. (Renews)

The European Union’s gas storage facilities are only 65% full, well below the 80% average for late august over the recent years. (FT)

Germany has said that it will intervene to fill gas storage levels in an emergency situation. (Montel News)

German gas storage association Ines has urged the government to make available incentives to induce injections ahead of winter. (Montel News)

France‘s nuclear power capacity will reportedly face a reduction during the winter season following an extension of the maintenance outage at the Gravelines 5 reactor, which is now scheduled to remain offline until January 25, 2027. (Bloomberg)