During the last decade the Spanish government has presented different plans to increase the production of renewable energies. In January 2021 the first auction under the new plan took place and Spain achieved new records lows for wind and photovoltaic energy.
- Spain has successfully assigned 3000 MW of renewable energies in the first contract for difference auction that took place in the country. The offers exceeded the auctioned power by more than 3 times.
- This type of contracts allows the project arrangers to significantly reduce their exposure to regulatory risk as the energy prices are set for at least 12 years.
- We consider that, regardless of the positive developments, the objectives set in the “Plan Nacional Integrado de Energía y Clima 2021 – 2030” (PNIEC 2021-2030) for wind and photovoltaic energy seem hard to achieve.