Crédito y Caución (Atradius) | Latin America is a frontrunner in the energy transition. It has the cleanest electricity mix in the world. But it is mainly focusing on hydropower, which is susceptible to altering rain cycles. The region has huge potential in other sources of green energy, such as sun, wind and geothermal generation. To remain a leader in clean electricity and achieve net zero emissions in 2050 it…
Bankinter | Elon Musk, the founder of Tesla, Twitter’s largest shareholder and the world’s richest man posted a tweet yesterday in which he encouraged Spain and Portugal to carry out a “massive deployment” in solar energy. According to Musk, Spain and Portugal could supply energy to all of Europe.Opinion: Elon Musk’s comments had a positive impact on the stock market, leading to strong rises in the main shares of renewable…
Renta 4 | The bottlenecks continue in Spain: Red Eléctrica de España (REE) has 339.800 MW of renewables registered in December 2021 compared with 339.700 MW in November. The normal is an additional +2k on a monthly basis. There are too many requests to build wind and photovoltaic farms in Spain. So the government is encouraging the withdrawal of the more problematical ones, those with fewer possibilities of getting through…
Renta 4 | The European Union surprised with a new plan that would label some natural gas and nuclear energy projects as “green” investments after a year of debate among the different governments about which investments are really climate-friendly. Specifically, the Brussels text, still in draft form, includes nuclear power plants already in operation and those to be built at least until 2045, as well as gas-fired power plants, which will enjoy the same recognition until 2030.
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…
Acciona’s renewables division has been listed on the stock exchange for less than a month (its debut on the trading market was on July 1) and has already announced its first international deal. Acciona Energía and SSE Renewables have agreed to explore offshore wind opportunities in Poland as the country seeks to progress the deployment of around 6GW of offshore wind energy by the end of the decade. For that purpose, both companies, who are already cooperating on the exploration of offshore wind opportunities in Spain and Portugal, have now signed a Memorandum of Understanding (MoU) in order to formalize a 50/50 joint venture for the Polish market.
Renta4 | The European Commission is preparing a legislative package (12 proposals) for July, which includes the revision of the Renewables and Energy Efficiency directives, and through which it plans to raise the renewables target to 40% by 2030, compared to the current 32%. Renta4’s analysis team’s opinion: The increase in Renewables and Energy Efficiency targets to 2030 could be good news for those countries whose targets are below that…
The British group Universities Superannuation Scheme (USS), the largest private pension fund in the United Kingdom, has entered the renewables business in Spain with a stake in Bruc Energy, the renewables investment vehicle created by the Canadian pension fund OPTrust and the businessman and former CEO of FCC Juan Béjar.USS has bought the 50% stake of Bruc Energy for a total of €225 M. The remaining 50% of Bruc Energy will remain in the hands of the current partners.
T.C. | According to data from Red Eléctrica de España (REE), the Spanish electricity system registered a record figure on Sunday 21 March at 13:37 hours: solar generation reached 10,255 megawatts of instantaneous production, which was able to cover 37.3% of peninsular demand. It should be remembered that last year Spain installed almost 3,000 megawatts of solar energy, reaching 14,000 megawatts.
T.C. | Acciona approved yesterday the spin-off of its green energy subsidiary, Acciona Energía, in order to float up to 30% of the capital of this subsidiary, which the press and some Spanish analysts want to value at 12 billion euros, although on 31 March Acciona’s capitalisation on the Spanish stock market was “only” 8 billion euros. The deal could allow Acciona to reorganise and reduce its debt, which currently stands at 6.858 billion euros, of which 2 billion euros matures this year.