Windpower Monthly rating 3.0/5

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Our rating is based on a combination of project pipeline, political and policy support, investor confidence and structural readiness of the country in terms of grid infrastructure, permitting process and local supply chain.

Estimate of installed and operating wind power capacity based on the latest statisitics and measured against the Windpower Intelligence database.

After a six-year slump brought on by the former conservative Partido Popular (PP) government's freeze on renewables, Spain's wind market is back in full swing.

Three power auctions in 2016-17 allocated a total of 4.6GW to wind power, half of which was built in 2019. The Socialist coalition voted into office in November 2019 has vowed to call further auctions once it has forged its new climate and energy law, slated for late summer 2020.

Meanwhile, the government has submitted its National Energy and Climate Plan (NECP) 2021-30 to the European Union, pledging to support renewables with part of a €241 billion investment, with the aim of nearly doubling their share in the electricity mix to 74% by 2030.

The Spanish wind industry association AEE believes wind can reach 40GW by 2030, up from 25.8GW today, supplying roughly 30% of Spain's electricity needs.

Most of the projects granted licences in the 2016-17 auctions put forward 100% discounts — meaning they could be built without subsidies. The only support left in place was a floor on production earnings, set at €22-28/MWh.

Spain has demonstrated in the past the ability to deploy significant amounts of new capacity rapidly, and if the economics are right there is no reason to suppose that it could not continue to do so in the future.

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