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…
Intermoney | Capital Energy has won the renewable capacity auction held this week by the Ministry for Ecological Transition. The Spanish utility won 1,548 MW, almost all of them wind, out of the total of some 3,100 MW awarded. Endesa, Iberdrola and Acciona Energía declined to bid in this auction, no doubt due to regulatory uncertainty and the dispute between the first two and the government.
The government’s energy reform is stirring up the whole sector, according to the daily Expansión. Not only the large electricity companies, such as Endesa, Iberdrola and Naturgy, which are already preparing a legal battle. Renewable energy companies are also coming out en masse demanding that this reform be softened by modifying some aspects as the the energy sold outside the daily market, through bilateral contracts (or PPAs, in technical jargon) will also be reduced. These bilateral contracts are the essence of the current development of the renewable energy sector, because they serve to finance it.
Intermoney | No beating around the bush. The generation of energy through photovoltaic technology is one of the keys to Spain’s economic recovery. at the beginning of 2020, before the arrival of COVID-19, more than 59,000 people were working in photovoltaic. 59,000 people were working in photovoltaics, including direct and indirect jobs, with a direct contribution to GDP of 0.24%, and these figures are expected to increase over the next ten years, making our country an international photovoltaic hub.
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 Spanish government has agreed that the cost of subsidies for renewables from now on will be assumed by the energy firms, no matter if they are oil, electric or gas companies. This is instead of consumers assuming that cost through the electricity bill they pay every month. The total amount stands at 7 billion euros/year and it represents approximately 16% of the domestic power supply bill. The transfer would be done gradually over 5 years. The first year 20%, the second 40% and so on up to 100% in the fifth year.
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.
The Industry Minister is preparing a new renewable energy auction for the end of March. It plans to invite tenders for 3,000 technology neutral MW. This will try to avoid some of the mistakes made in the previous one at the start of 2016. Furthermore, it is another boost for these technologies to comply with the EU directive of fulfilling at least 20% of its total energy needs with renewables by 2020.
In 2016, Spain’s Energy Ministry needs to revise the parameters related to the adjustment of green energy premiums included in the 2013 electricity sector reform. The proposal which Energy Minister Alvaro Nadal has sent to the National Competition Commission, pending amendments in order to have it ready before end-year, has not gone down well with green energy producers. They say that the proposal, as it is, limits the premiums and does not allow them to reach the stipulated reasonable rate of return.
The European Commission has recently presented its energy plan for the period 2021-2030. The tightening up on legal security for investors will especially benefit Spanish renewable installations.