Spain

BayWa r.e. renewable energy GmbH has achieved financial close on €100 million construction bridge financing for its 174 MW solar PV project in Seville.

Two months after announcing its intention to turn to renewables, the Spanish oil giant has for the first time formed a technological tie-up that integrates a partner into the company’s value chain.

The Balearic Islands have decided to fast-track a 42 MW solar project, which would raise the three island’s total installed generations by one third. Iberdrola has secured a PPA for its 391 MW Nuñez de Balboa projects. Moreover, several other PV projects have obtained approval from regional authorities.

Spain, Portugal, France and the European Commission have signed a deal to increase the capacity of the energy interconnection between the Iberian Peninsula and Europe. Currently, the interconnection capacity is 6,000 MW and, thus, far from the 15% goal set in 2015.

Spain’s electricity grid operator, Red Eléctrica de España (REE) has announced that the country’s mainland covered almost half of its electricity demand in the first half of 2018 with renewable energies alone.

The Spanish PV project developer is currently seeking ways to finance its solar project pipeline in India, Chile and Spain. Although the rumors have not been confirmed, listing on the Madrid Stock Exchange may be a option.

Spain’s Enel unit Endesa plans to invest €59 million in the construction of a 84.9 MW solar park in the town of Totana, in the southern region of Murcia. In other news, Catalonia is also seeking independence through energy. In this vein, Barcelona Energy, a public metropolitan electricity operator that will supply renewable electricity to the City Council and other municipal companies, as well as street lighting, began operations yesterday.

Another big energy group transitioning to clean sources has chosen to change its name to reflect the new strategy. The Spanish gas and power provider started investing in solar last spring.

Although it is still unknown when exactly the new auctions will be held, the Spanish Ministry of Ecological Transition is now defining new bidding rules, in order to adapt them to international standards.

While tariffs may inhibit India’s ability to benefit from anticipated record low Chinese panel prices, Japan already has a strong pipeline and two of the world’s solar pioneers – Spain and Italy – could be given a shot in the arm by new administrations.