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Spanish energies will grow 63% in renewables in just two years

Date: March 29, 2024 Time: 21:15:25

The number of projects associated with the ecological transition is growing day after day in an unstoppable manner, to such an extent that the energy and climate plans of the different European countries have become outdated in less than 1-2 years since their approval. With their sights set on achieving climate neutrality by 2050, Spanish energies have become champions of the process and have set out to conquer the clean energy market.

Iberdrola, Acciona Energía, Endesa, Naturgy, Solaria, Repsol, Opdenergy and Grenergy today add a ‘green’ capacity of 74,072 MW worldwide and plan a 63% increase in just the next two years, until reaching 120,100 MW, according to the data collected by La Información from its different strategic plans. To achieve this, they have committed billions of dollars, although it should also be noted that they have increased from the worst energy crisis with record profits as a result of high prices.

The group chaired by Ignacio Sánchez Galán has been committed to renewable energies for more than two decades and ended last year with around 40,000 MW of installed power. Under its strategic plan for 2025, it will allocate around 17,000 million euros to continue growing in this field and add another 12,000 MW to its portfolio, until reaching 52,000 MW (80,000 MW in 2030) in said field. To get an idea of ​​the milestone, around 70,000 MW are installed in the national electricity system, including hydro, hydro, wind, photovoltaic, solar thermal, renewable waste and other renewables), according to data from Red Electrica.

Acciona Energía grows in the US

Acciona Energía, which opened its first full year on the stock market in 2022, is another of the national firms that will be better positioned. Just three days ago during the presentation of results, its CEO, Rafael Mateo, announced that the company is in negotiations to get a 2,000 MW photovoltaic portfolio in the United States. Today it has almost 12,000 MW and estimates to reach 20,000 MW in 2025.

For its part, Endesa updated its strategic plan last November to make it more ambitious. The company led by José Bogas estimates “solid growth in the emission-free generation park”, going from 9,500 MW to 13,900 MW, with an investment of 4,300 million euros. The new renewable capacity that will be added to Endesa’s energy mix grows by 10% compared to the previous plan, up to 4,400 MW. Of these, 68% will be solar and the rest, wind. According to the company, 91% of the peninsular generation park will thus be free of emissions at the end of 2025, compared to 72% at the end of last year.

Naturgy will also give a good boost to its ‘green’ growth. The gas company plans to invest 14,000 million by 2025, of which approximately two-thirds will be dedicated to promoting renewable generation, thus confirming its strategic turn and with the aim of tripling its installed renewable capacity to go from the current 4.00 to current MW. The greatest growth will be experienced in Europe (+5,200 MW), followed by Australia (2,200 MW) and geographies such as the United States and Chile.

Repsol, aware that it has a long way to go to not be left behind by Iberdrola, Endesa and company, will make a “historic organic investment” of 5,000 million euros in 2023 in order to boost its multi-energy profile. In line with its goal of being net zero emissions, it will invest 19.3 billion euros in renewable electricity generation and green hydrogen production during the 2021-2025 period. As detailed by the company itself, up to 6,500 million euros will go to the development of low-carbon projects. In this way, the investment will be allocated to low-emission initiatives will be at 35% until 2025, a percentage that will rule out 45% in 2030.

The company run by Josu Jon Imaz has set a goal of 6,000 MW of installed power in 2025 and 20,000 MW by the end of the decade. Another oil company that is betting on ‘green’ is Cepsa. At the end of March of last year, it announced an investment of 8,000 million: 60% of the amount will go to sustainable businesses as of this year, so that they contribute more to their Ebitda, from 14% in 2022 to more half by 2030

Solaria, Grenergy and Opdenergy

Another of the companies that is betting big is Solaria. In recent months, 2,786 photovoltaic MW in operation and construction have been reached. In addition, the company owns 7,700 MW in connection points in Spain and Portugal. “Solaria has already achieved full visibility on 6.2 GW, which meets its goal for 2025,” underlines the company, which in 2022 broke records with a net profit of 90 million euros. Last year the firm made significant progress in the construction of Cifuentes-Trillo, one of the company’s flagship projects with 626 MW. Likewise, it will obtain favorable Environmental Impact Declarations (DIAs) for an additional 2,500 MW, including the Cifuentes-Trillo (Guadalajara), Garoña (Burgos) and Villaviciosa (Toledo-Madrid) photovoltaic parks. Another one that will grow exponentially will be Grenergy. It wants to reach 5,000 MW of installed power in 2025, while it already has 7,000 MW of storage under development.

Likewise, Opdenergy expects to incorporate assets this year to add 1,800 MW in operation. To this end, it expects to put almost a dozen facilities in Spain into operation during the second and third quarters, which will contribute 510 MW, as well as another 580 MW at the group level for the last quarter. 67% of the company’s assets are located in Europe, with a special weight in Spain, which has 358 MW in operation and 806 under construction. Opdenergy, which aspires to 3,000 MW in 2025, also has projects in the United States, Mexico, Chile and Italy.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

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