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.
Dániel Stemler | According to the latest report by the International Renewable Energy Agency (IRENA), last year was a record year for renewables as the “global renewable energy generation capacity increased by 161 gigawatts (GW) in 2016”.
The Spanish wind energy company will start to operate in the Dutch market with an agreement to provide 11 MW and has also signed other five in France, Italy and Greece to install about 72 MW. Gamesa Dutch project entails replacing old turbines in different wind farms –three G58-850 kW units and ten G52-850 kW units.
Isolux is a Spanish midcap which operates in the construction business and in the maintenance of large infrastructures in over 40 countries. It has been forced to reach an agreement with its principal creditors to avoid bankruptcy.
MADRID | The Corner | After reducing public subsidies to renewable energies sector from €8.7bn to €7bn a year, Spanish government is not considering a bail-out plan similar to the one rescuing the financial sector with a bad bank as some were longing to.