According to analysts’ forecasts, Spain’s newly installed renewable energy capacity in 2020 may exceed market expectations. It is estimated that by the end of 2020, 4.2GW of renewable solar devices energy power generation will be put into operation, and at least 3.2GW is currently under construction.
The largest share may come from solar photovoltaic power generation, accounting for 2.8GW of the 4.2GW forecast, of which at least 1.94GW is under construction. As for wind power capacity, analysts expect 1.38GW of capacity to be put into use, of which 1.25GW is under construction.
According to UNEF, the local solar photovoltaic association, there will be about 1.5GW of new photovoltaic grid-connected power generation by 2020, and the highest potential will reach 3GW.
Some large-scale projects are currently under construction in the country. Solar energy includes the 264 MW Valdesolar photovoltaic project in the central western region of Extremadura. The acquisition of this project marks Repsol's entry into the solar field. According to Repsol recently, the construction of the project is likely to be completed in early 2021. However, part of the project may go live at the end of 2020, Argus added.
Another large-scale project is Ellomay Capital's 300MW Talasol solar photovoltaic power station, which is expected to be connected to the grid in October 2020. Encavis's 200MW Cabrera solar project is also expected to be put into operation before the end of the year. The project has signed a 10-year power purchase agreement (PPA) with Amazon.
Iberdrola and Endesa are planning other large projects, which may go live before the end of the year. However, due to the COVID-19 pandemic, some projects may experience some delays.
According to statistics from Spanish transmission operator REE, in the first half of 2020, new solar photovoltaic power generation capacity will be 780MW, and wind power grid-connected capacity will be 446MW. Argus analysts predict that between January 2020 and July 2020, Spain will add 1.63GW of renewable energy power generation, compared with 1.31GW in the same period last year.
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