Austrian utility Verbund is acquiring a 147.6MWp PV project in southern Spain from renewables developer BayWa r.e. as part of the company’s planned solar expansion.
Oil and gas company Galp has secured loans from the European Investment Bank (EIB) to support the construction of more than 2.1GWp of solar projects across Spain and Portugal.
Average winning solar bids in Spain’s renewables auction this week came in above those for wind as interest among PV bidders faltered against a backdrop of rising equipment costs and regulatory uncertainty.
Spain’s latest renewables auction closed with solar PV bidders being awarded just 866MW of capacity, with players such as Naturgy and Bruc among the winning participants.
Spanish oil and gas major Repsol has increased its 2030 renewables target to 20GW, the bulk of which is expected to be solar PV, as part of efforts to reach net zero emissions by 2050.
Iberdrola has paused tenders for goods and services associated with the construction of renewables projects in Spain following the introduction of new measures in the country that limit the profitability of non-emitting power plants.
Concerns have been raised that new measures introduced by Spain’s government to limit windfall profits of renewable energy plants could dent investor confidence and impact the stability of the country’s solar sector.
Record-breaking power prices across Europe have turned the spotlight on the role fossil fuel plants play in generating electricity and how the transition to renewables-plus-storage could lower consumer bills.
Supply disruptions in the coal and gas sectors have contributed to record electricity costs across Europe, leading to calls for more support for renewables generation to mitigate future price rises.
Spain’s renewables auction next month is set to receive high levels of interest from solar bidders, according to industry observers, as the country’s government seeks to support the swift deployment of new capacity following a summer beset by record-breaking electricity prices.
