In order to incorporate renewable energy projects into the national energy structure (expected to reach 60 GW by 2030). It also provides legal certainty for the country's energy regulatory framework. The Spanish government authorized the decree yesterday. Supervise new large-scale renewable energy projects, clean energy auctions, and grid connection of power projects.
The Spanish Ministry of Ecological Transformation stated that the large-scale penetration of renewable energy will enhance the country's industrial value chain and competitiveness. And in the context of post-Covid-19 economic recovery, it will bring about economic activity and employment sustainability. Once the royal decree is approved, the ministry will immediately start the renewable energy auction originally planned for the second half of this year.
According to the new auction plan, developers will bid for projects based on the actual megawatt-hours of estimated power generation. Instead of bidding by project capacity like the current one. There are currently 430 GW of solar and wind energy projects in Spain awaiting permission for grid connection. The country only hopes to add another 50 gigawatts of clean energy production capacity by 2030. The second royal decree is currently being urgently processed to avoid financial speculative threats related to grid licenses.
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