Everyone wants in on Spanish solar – Steag

(Montel) The Spanish renewables market is very attractive for investors and is “one of the most

important solar markets in Europe”, despite recent government intervention, said the head of

business development at Steag Solar Energy Solutions (Sens).

“Everyone wants to be here,” Ines Monroy of German utility Steag’s solar subsidiary Sens told Montel

this week, referring to the company’s plan to build 0.5 GW of photovoltaic capacity in Spain this year –

its current European portfolio exceeds 3 GW.

The country had the highest degree of solar radiation in Europe, which made it “especially attractive”

and could offset some of the regulatory uncertainty.

The government recently approved several measures to tackle spiralling energy prices, including a

windfall tax on some energy firms.

New players

This had not stopped new players, such as investment funds and independent power producers,

entering the market, Monroy said.

“You could say that, right now, there is more investment volume available than projects,” she added.

New players demanding more green plants increased the value of existing projects, she said.

The government planned to tender at least 17.5 GW in renewables grid access permits before April.

These were likely to see strong demand, while «there will always be enough projects to meet the

[country’s green] goals”, said Monroy.

Spain plans to triple its existing solar capacity to 39 GW by 2030.