Spain’s next renewables auction will take place on October 14 and will attract around €2.22 billion. 3,330MW will be auctioned after the 3,000MW auctioned last January and the 8,000MW in May and July 2017.
Unlike in previous auctions, on this occasion 1,500MW will be reserved for onshore wind power. In addition, 600MW will be reserved for both photovoltaic and wind energy plants projects in an advanced stage of development and 300MW will be reserved for generation of energy that will be distributed by councils. With this last measure, municipal bodies will be able to install photovoltaic plants nearby to supply cities or towns with the renewable energy generated.
In addition to the major groups (Iberdrola (IBE), Endesa (ENE), …) and other energy groups such as Repsol (REP), electricity generators which have sprung up around renewable energies are also expected to attend the auction.
As Bankinter’s analysis team explains: The government’s main objective with this auction is to make progress towards its goal that: 74% of Spain’s electricity will be from renewable sources by 2030 and 100% by 2050. Currently this percentage is approximately 50%.
