Danish energy firm Ørsted has signalled its entry into the Spanish onshore renewables market, forging four alliances with local companies as it targets this summer’s grid auctions, with “multi-gigawatt ambitions in the market long-term”.
It has teamed up with Spanish developers Glide Energy, Rolwind and ARBA Energías Renovables, and services firm Ereda to help meet Spain’s renewables ambitions. Madrid is aiming for 70% renewable generation by 2030 and 100% by 2050, with targets of 39GW of onshore solar PV, 50GW of onshore wind capacity and 3GW of offshore wind power.
Ørsted and its partners plan to establish onshore wind and solar projects ahead of auctions this summer, acquire the rights to a multi-gigawatt pipeline across the country, and develop energy storage over the next decade.
The Danish developer aims to sell output either through the auctions, or through corporate power purchase agreements. It has also set up a Madrid office.
Ørsted Onshore CEO Neil O’Donovan said: “Our new partners complement Ørsted’s experience with scaling an onshore business with a strong development expertise and local knowledge of the Spanish market. Together, we can provide relevant green energy solutions at scale to support the green transformation in the country while creating value for our stakeholders.”
O’Donovan added that the move into the Spanish onshore sector will “complement the ambitions of Ørsted’s offshore business in a key market”. The firm announced in April it is pursuing opportunities in Spain’s offshore floating wind sector, with plans for a joint venture with Spanish energy firm Repsol as Spain moves towards a floating wind policy framework by year-end.
Ørsted has been building up its onshore renewables pipeline in the UK and Ireland, but the greatest share of its onshore wind and solar holdings are in the US. It is aiming for 17.5GW of onshore capacity globally by 2030.