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Spanish economy 31st October 2022

Electricity Companies Call On The Government To Fix The Chaos It Has Generated In The Awarding Of Renewable Energy Licences

The monumental bureaucratic bottleneck that currently exists in Spain in the processing of permits for the installation of renewable energy plants threatens to destroy hundreds of projects if the government does not intervene in the coming weeks. According to various reports handled by the major electricity companies and reported by the newspaper Expansión, the paralysis is already affecting between 2,500 and 3,000 projects, totalling between 80,000 and 100,000 megawatts (MW)…

repsolatardecer

Companies, Ibex, In Spain 9th June 2022

Repsol will decide this Thursday whether to sell 25% of Repsol Renovables (total worth some €3.500 B)

Norbolsa | This Thursday Repsol’s board will decide on whether it will sell 25% of Repsol Renovables, according to online daily El Confidencial. Possible favourites could be Prédica (a subsidiary of Credit Agricole) and Swiss fund Energy Infrastructure Partners. A valuation of 3.5 billion euros has been suggested for 100% of Repsol’s renewable arm. We recall that a few days ago press reports flagged the possibility that Repsol was studying…

Spain renewables

Spanish economy 1st February 2022

Bottlenecks in Spain’s renewables: there are requests for up to 150.000 MW vs target of additional 60.000 MW for 2030

Renta 4 | The bottlenecks continue in Spain: Red Eléctrica de España (REE) has 339.800 MW of renewables registered in December 2021 compared with 339.700 MW in November. The normal is an additional +2k on a monthly basis. There are too many requests to build wind and photovoltaic farms in Spain. So the government is encouraging the withdrawal of the more problematical ones, those with fewer possibilities of getting through…

Lack of political will for renewables energy

European economy 9th April 2021

EU: The Share Of Renewables In The Mix Rose To 39%, Beating Fossil Fuels (36%) For The First Time

The share of electricity generated from renewables in the EU energy mix (39%) exceeded the share of fossil fuels (36%) in 2020 for the first time ever and EU consumption of both electricity (-4%) and gas (-3%) fell from 2019 levels, but most of the drivers for this change (notably the COVID-19 pandemic) were exceptional, according to the latest Commission quarterly reports on gas and electricity markets published today.

renewables toreras

Spanish economy 12th March 2021

Spain’s Appeal For Investment In Renewables

The national installed capacity of renewable energies between 2006-2021 has increased significantly, especially wind and photovoltaic energy. As pointed by Intermoney, they have grown 139% and 9,110%, respectively. Similarly, the installed conventional energy (coal and fuel + gas) has decreased with declines of 53% and 73%, respectively. Spain would also exceed the European targets for the penetration of these energies with 42% compared to the European 38-40%. For the experts of Renta 4, the very strong operational and financial growth of the companies will be coupled with the growing trend of ESG.

Naturgy Candela

Spanish economy 18th January 2021

Naturgy Enters US Renewables Market Along With Local Firm Candela Renewables

Renta 4 | This week could see Naturgy finalising its entrance into the US firm Candela Renewables, valued at 80-100 million dollars, according to Reuters. This is a platform for the development of renewable projects, founded in 2018 by former employees of First Solar and Nextlight, and which has launched 26 projects to date. In the absence of further details on the possible operation, we would favourably consider the entry into the US market on a quality basis.

repsol LNG

Ibex, Markets, Spanish economy 9th December 2020

Repsol Is Expected To Float Its Renewables Subsidiary In Less Than Two Years

Repsol announced the IPO of its renewables area or an alliance with a third party in its Strategic Plan 2021/2025 presented on November 26th. The operation could be carried out in less than two years and it will always maintain control of the shareholders. The company expects to raise at least 1.4 billion euros with the floating, which would mean valuing the division at around 3 billion euros. It would be one of the largest operations of the last decade.

iberdrola guapis

Ibex, Markets, Spanish economy 9th November 2020

Iberdrola Launches €75 Bn Investment Plan To 2025 As A Commitment To Economic Recovery

90% of this investment volume – €68 Bn – will be organic and will be aimed at consolidating its business model, based on more renewable energy, more networks, more storage and more intelligent solutions for its customers. The rest, €7 Bn, corresponds to the recently announced acquisition of American company PNM Resources. This unprecedented rate of expenditure will represent an average investment of €10 Bn per year between 2020 and 2022, and €13 Bn per year in the period 2023-2025.

ibedrola renewables

Ibex, Markets, Spanish economy 23rd September 2020

Iberdrola To Develop The Still Inmature Japanese Offshore Wind Market

Iberdrola is targeting the Japanese market as a new platform for growth in renewable energy, specifically in the field of offshore wind. It has signed a deal with Macquarie’s Green Investment Group to acquire 100% of the local developer Acacia Renewables, which currently has two offshore wind farms under development, with a combined capacity of up to 1.2 GW. The operation will allow Iberdrola to position itself in the early development stage of Japan’s offshore wind market.