Spain heatwave lifts cooling electricity demand by 30% and sparks investment focus

A three‑week spell of extreme heat in Spain has driven electricity consumption for air‑conditioning up by roughly 30%, according to analysts led by Brian Singer. Goldman Sachs identified about 42 firms—ranging from electric‑component manufacturers to power generators and renewable operators—that could benefit from the surge in cooling demand. The bank advises investors to add such companies to portfolios this summer. Spain, with about 15 air‑conditioning units per 1,000 residents, already exceeds the global average, and the heatwave has pushed national electricity loads to their highest levels since 2022. While the continent’s overall share of cooling‑related companies is modest, the trend highlights growing market opportunities across Europe and beyond.