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renewable energy

red electrica cableado

Spanish economy 10th December 2020

The Amount Of Renewables With Access Permission To REE Shows Spanish Network Is Starting To Be Saturated

Renta 4 | Withdrawals from network access points are continuing. To the over 20 GW of renewable projects abandoned in September, we must now add another almost 5 GW during the month of October. As of October 31st 2020, the number of renewables’ plans with access permits has risen to 121.7 GW. This means only a further 0.5 GW have obtained the access point, a clear sign the transport network is fairly saturated.

renewables toreras

Spanish economy 1st December 2020

Spain’s Renewables Sector: “Auctions ‘Democratise’ Energy, But They Must Be ‘Well Conceived’

In his participation in today’s 4th Renewable Energy Congress organized by APPA, Chairman and CEO of Ence, Ignacio Colmenares, said the auctions of renewables will lead to “competition and the price of energy remaining increasingly competitive. Meanwhile, the non-executive president of Capital Energy, Juan Lasala, said the auctions “are a way to give visibility to the market.” But he stressed they must be “well conceived and designed.” The government plans to launch the auctions beore the end of this year.

X Elio fotovoltaica

Markets, Spanish Small & Mid Caps 23rd July 2020

China Three Gorges Interested In X-Elio Photovoltaic Assets To Enter The Spanish Market

The state-owned company China Three Gorges could be negotiating the purchase of X-Elio’s photovoltaic assets in Spain. These total 640 MW of installed capacity in operation, under construction or in a developing phase, includes the acquisition of 13 photovoltaic plants. According to sources close to the company, the operation could be worth around 500 M. €, which could include the debt related to these project. The operation could be one of China’s few acquisitions in Europe this year, Bloomberg said.

renewables

Markets, Spanish Small & Mid Caps 23rd July 2020

EDP And Macquarie Create A New Competitor In Spain’s Renewable Energy Sector

Banco Sabadell | Portugal’s EDP and Australia’s fund Macquarie have created a joint venture to acquire Spain’s Viesgo, the country’s fourth largest electricity company. EDP is acquiring Viesgo’s 500 MW of renewable assets for 615 million euros. As a result, EDP will hold 75.1% of the capital of the new Viesgo and Macquarie will hold the remainder. This new company would have been valued at 2.7 billion euros. Although a priori the creation of a new stronger competitor could mean pressure on the sector, we think it will have little impact since the greatest competitive pressures in the energy sector come from the commercialization leg.

Renewablesss

Spanish economy 9th July 2020

Spain’s New Renewables Auctions Will Allow For Bids On Energy To Be Supplied Or Combined With Installed Power

Spain’s Cabinet has authorised the processing of the emergency decrees to regulate the procedure for auctions and access and connection to the energy transmission networks. These decrees will provide legal certainty for the Spanish energy framework, preparing it for the installation of some 60 GW of renewables in the next decade. Up until now, the product auctioned has been the installed capacity, subject to a minimum and maximum in order to receive the return per operation. 

NextEra 1

Spanish economy 18th June 2020

NextEra Wins Millionaire Renewables Lawsuit Against Spain

Bankinter | The US giant NextEra, the world’s largest electricity company by market capitalization, has been victorious in its long, multi-million dollar arbitration process against Spain regarding subsidies’ cuts which took place years ago. The Ciadi, the World Bank’s arbitration body, has lifted the suspension on the execution of the favourable award NextEra obtained a year ago. The award obliges Spain to pay 290M euros in compensation for the damage caused by the cuts decreed in 2014.

renewables2

Spanish economy 2nd March 2020

Spain Achieves A Partial Victory In The Largest Renewable Lawsuit

The arbitration proceedings started by a series of funds grouped under The PV Investors against Spain within Uncitral (a UN dependent body) have concluded. There was a minimum sentence of € 90M against the Spanish State, compared with the € 1.910 Bn claimed by the litigants. The ruling obliges the litigants to pay costs (of £13M) without any recourse, unless under very exceptional circumstances.

jose elias

Spanish economy 26th November 2019

“Launching a photovoltaic power station requires three years”

Julia Pastor | Chairman and Owner with 90% of the capital of the Spanish energy firm Audax Renovables José Elías regrets that the whole industry has made a terrible mistake. “We were able to generate all that photovoltaic energy and we were able to develop an industry around that, but we screwed up, ruining a lot of citizens. We could not have acted worse,” he reckons.