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HomeLatest NewsListed renewables soar on the stock market with the unlocking of permits

Listed renewables soar on the stock market with the unlocking of permits

Date: April 1, 2023 Time: 17:51:47

The almost unanimous satisfaction of the Spanish energy sector after the public administrations have managed to review the environmental procedures of miles of new renewable projects is also reflected in the Spanish park. So far in January, purely renewable energies have accumulated gains above the average for the Ibex 35 – which is around 9% – taking advantage of the good run of the selective and the good news that the Ministry of Ecological Transition and the autonomies have been publishing.

The data shows how since January 2, companies such as Soltec have accumulated a 36.7% advance on the stock market in less than thirty days, going from opening the year at 4.20 euros to rising to the current 5.52 euros per share . History repeats itself with Grenergy, which accumulates a rise of 21.6% after going from 29 to 34.1 euros per share so far this year.

Along the same lines is Solaria, the only pure renewable that is listed on the Ibex and whose value grows by 14.7%. This Opdenergy group closes with an increase of 14.3%. To all of them we must add the excellent performance of Audax shares, whose value accumulates an 86% rise so far in January, although for the moment it has not wanted to report whether these procedures conditioned some of its main projects.

The trend improves the records of large energies, whose value is subject to other conditions such as the end of diesel shipments to Russia Europe or the tense negotiations to obtain gas. In this regard, Naturgy scores 8.7%, Endesa 3.6%, Repsol 3.4% and Acciona Renovables around 3%. Although the figures are positive, all of them are below the average of increases registered in the Madrid stock market. Iberdrola, for its part, has accumulated a 1.5% drop in its price since the beginning of the new year.

Listed companies total more than 7,000 megawatts

The biggest beneficiary of these permits is Solaria, which has received environmental approval to develop projects worth 3,985 megawatts (MW) that have already been found in its portfolio. Among them was the Cifuentes-Trillo (Guadalajara) megaproject, which with a total investment of 220 million euros aspires to become one of the largest in Spain with 626 MW of capacity generated by 13 different plants.

Another doubt was resolved at the end of December, when it received the environmental permits for the Garoña (Burgos) photovoltaic project, which will have about 1.5 million solar panels to generate up to 595 MW once the investment of 260 million foreseen and linked to the ecological transition of the environments close to nuclear facilities. Another investment of 270 million euros in the province of Toledo was also in the air, which would make it possible to build 14 photovoltaic plants with a total capacity of 782.5 MW to connect to the Villaviciosa de Odón substation (Madrid).

In terms of capacity, the next big beneficiary is Opdenergy, which has received ‘ok’ in the environmental declarations corresponding to 2,320 MW. As the company has reported, almost half of the permits correspond to projects included in the asset sale agreement to Bruc (1,101 MW) that facilitate its going public. Another 806 MW belong to parks under construction, 317 MW to others that plan to develop throughout 2023 and another 96 MW to projects already built. Opdenergy has ensured that the environmental approval of these projects reinforces the objectives of its strategic plan.

Grenergy, which has started the process to sell 49% of a portfolio of more than 1 gigawatt (GW) for more than 1,000 million euros, has obtained permits for projects worth 472 MW. The largest of these is located in the Tabernas desert (Almería) and has a planned capacity of 250 MW and an annual production of 466 GWh. Added to this are projects in Ayora (Valencia) for 172 MW, and in the vicinity of the José Cabrera nuclear power plant (Guadalajara) for 50 MW.

Obtaining the permits is “a boost” for the objectives of the listed company, which include doubling the weight of the projects developed on Spanish soil within its portfolio. It currently has 11.4 GW under development, 5.1 of them in the last year, and it has also set a goal of reaching 1 GWh in operation or construction of energy stores by the end of 2024.

The supplier of solar trackers Soltec, also dedicated to the development of projects, adds to its portfolio another 401 MW of capacity divided into 16 photovoltaic plants in Murcia and Alicante. Of that total, 352 MW will be executed together with TotalEnergies, of which Soltec owns 65%. “Our commitment to the development of the Levante area as a renewable energy pole is firm and we are convinced of its potential to contribute to the energy transition at a European level,” said Raúl Morales, CEO of Soltec, in statements sent by the company.

Banco Santander will sell Holaluz panels

Added to this good news in the renewable sector is the recent agreement between Holaluz and Banco Santander, according to which the bank will market the installation of Catalan photographic panels in its almost 2,000 branches and digital channels. The agreement includes the start-up of a green financing line under preferential conditions by the bank. Holaluz, for its part, will be in charge of the installation process, from the design phases to maintenance, including the management of aid or subsidies that today cover up to 50% of the cost thanks to Next Generation funds.

Galicia and Murcia, the CCAAs with the most projects posted

On January 25, the period set in Royal Decree-Law 23/2020 ended for the competent administrations to resolve —whether in favor or against— those renewable projects submitted until the entry into force of the standard. The milestone has been surpassed in a majority way and both the Ministry of Ecological Transition—on whom the projects of more than 50 megawatts depended—and the autonomies have managed to solve them almost completely. The view is now now set on the month of April, when the administrative authorizations that guarantee the definitive implementation of these projects must be resolved.

According to the accounts sent by the different regional governments to La Información, the majority of regions have resolved all pending files on time, with the exception of Galicia or Murcia, where 20 and 11 projects have not been processed, respectively. In the Balearic Islands, two projects have also been hung up due to lack of diligence on the part of the promoters. Madrid, Castilla y León and La Rioja are the only regions where the result of the processing has not been published.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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