Spain launches new renewables auction with 1.8 GW of solar capacity sought

Aug 3, 2022 02:48 PM ET
  • Spain has actually revealed its 4th renewables auction round, to be held on 22 November, with 1.8 GW of solar capacity sought to accelerate the decarbonisation of the country's power system.
Spain launches new renewables auction with 1.8 GW of solar capacity sought
Image: Naturgy

The Ministry of Ecological Transition (MITECO) likewise revealed it will certainly approve the scaling up or hybridisation of existing installations for this most current round.

Furthermore, if several of the assigned capacity is not totally filled for solar PV (1.8 GW) or wind (1.5 GW), the capacity could be transferred to the various other technology.

This will certainly be the 4th auction Spain has held. The first was kept in January 2021, when more than 2GW of solar was awarded, as well as the second in October 2021, when just 866MW of solar capacity was awarded.

While the 3rd auction, which was supposed to happen this April, will ultimately be held on 25 October with a procurement round of 520MW of renewable capacity, including 140MW for dispersed solar.

The announcement came together with a collection of actions Spain will certainly carry out in the coming months to minimize its gas intake by as much as 5%, as per the European Union pledge to reduce gas demand ahead of winter and also accelerate renewables in what could be a document year for solar deployment in Europe with 40GW forecasted.

Earlier this year, the Spanish government stated it will certainly introduce a windfall tax on power companies and financial institutions beginning next year to fund actions designed to help Spaniards with skyrocketing rising cost of living.

In addition, MITECO also announced the launch of a public proposal created to accelerate the release of energy storage co-located with renewable projects.

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