Spain is the 2nd country in the world with the most power purchase agreements (PPA) for companieswith 4.67 GW in 2023. This is 28% of the European total and a good sign of the potential we have in our country.
This is what can be extracted from the report EY Renewable Energy Country Attractiveness Indexcarried out by Ernst & Young, with the purpose of Analyze trends in the global renewable energy market.
The Spanish market therefore remains a global benchmark in a year (2023) in which it was recorded a record number of these corporate power purchase agreements. Surpassed only by Germany, Spain is now one of the leaders in the energy transition, despite some challenges.
“Spain is in a stage of energy transition where Resilience and innovation are more important than ever. With a focus on creative solutions and an adaptive energy policy, the country is well positioned to overcome current obstacles and lead the way towards a greener and more sustainable energy future,” says Agustín Rico, partner responsible for the Energy sector at EY in our country.
Spain fails in investment
Some important challenges such as market volatility, power grid congestion or restrictions have, in turn, caused the Spanish market to drop 4 positions to rank in the top 10. 12th position in the ranking of attractiveness for investments.
However, in this study, it has also been found that 2023 was a record year for investment in the renewable energy sectorwith 1.8 billion dollars injected into clean energy, although, as they point out, we are still far from the objectives proposed by COP28.