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Natura Resources Announces Agreement with NGL Energy Partners to Develop 100-MW SMRs with Large-Scale Produced Water Treatment in the Permian Basin

LCG, February 4, 2026--Natura Resources LLC (Natura), a developer of advanced molten-salt nuclear reactors, announced yesterday that it has signed an agreement with NGL Water Solutions Permian LLC, a subsidiary of NGL Energy Partners LP (NGL), to pursue opportunities to combine Natura's advanced nuclear reactor technology with thermal desalination for power production and oil and gas produced water treatment. NGL transports, treats, recycles and disposes of more than 3 million barrels per day of produced and flowback water generated from crude oil and natural gas production in the Permian Basin.

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OPG Completes Darlington Nuclear Station Refurbishment Project Under Budget and Ahead of Schedule

LCG, February 2, 2026--Ontario Power Generation (OPG) announced today that construction on the four-unit Darlington Refurbishment project is now complete. Station staff are completing final testing, and the last unit is expected to return to service in the coming weeks. OPG stated that the overall project is currently four months ahead of schedule and $150 million under budget.

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Industry News

Endesa, Iberdrola Call Off the Wedding

LCG, Feb. 6, 2001Spain's two largest electric companies, Endesa and Iberdrola, yesterday called off their 13.5 billion-euro ($12.6 billion U.S.) merger, citing strict conditions imposed by the Spanish government on Friday.

"The resolution on Friday substantially changed the framework that we had agreed on and forces us to stop pursuing the deal," Iberdrola Chairman Inigo de Oriol told reporters yesterday. "The conditions imposed by the government removed the economic and strategic sense."

Though billed as a merger, the deal would have been an acquisition by Endesa of Iberdrola. Because of fears of market dominance, the Spanish government would have required the companies to divest a significant amount of generating capacity and reduce its market share of distribution.

If the two companies had joined forces, they would have made up about 80 percent of Spain's power market. The government rulings would have limited the new company's share of the generation market to 43 percent and cut its control of distribution to 48 percent.

Cancellation of the deal leaves Iberdrola vulnerable to takeover attempts by other European power firms, according to Iberian energy experts. Matija Gergolet, an analyst at Standard and Poor's Equity Research in London, noted "Iberdrola's management has demonstrated by accepting Endesa's takeover offer that they are up for sale."

Spain has been defensive against takeover of its companies by government-controlled foreign investors but a European Commission decision last week overruled Spain's right to prevent foreign state-owned companies from entering its liberalized markets.

That is seen as an invitation to Electricit de France, Italy's Enel, RWE of Germany and others to make overtures for Iberdrola.

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