Spain Renewables Report

Published 01 July 2015

  • 35 pages
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  • Includes 3 free updated quarterly reports
Spain Renewables Report

BMI View: Spain's efforts to rejuvenate its renewables industry by following a more cautious and controlled approach to attracting investment is a positive development for the sector and presents upside to our 10-year renewables growth forecasts. We believe this approach will gradually re-start capacity growth as investors regain confidence in the market. However, we expect this growth to be significantly slower than historical rates, as caps on capacity additions and project profitability will mean investors look elsewhere for better growth opportunities.

A number of regulatory changes over 2013 and the beginning of 2014 have rocked Spain's renewables industry. Coupled with the country's depressed economic picture, these reforms have dented investor confidence and created difficulties for renewable energy operators.

Key Trends And Developments

  • In April 2015, the government announced that it would introduce a new auctions system, as opposed to a fixed Feed-in-Tariff system. The first auction is planned to award 500 megawatts (MW) of capacity for wind and 200MW of biomass capacity.

  • It was announced in February 2015 that the government is taking steps to resurrect its faltering renewables industry, reportedly aiming to add over 8.5 gigawatts (GW) of renewables capacity between 2015-2020, comprising primarily of wind and solar.

  • In December 2014, Gamesa gained a contract to provide operation and maintenance (O&M) services for 132MW of wind farms across Spain. The contract, which is a renewal of a previous agreement, was awarded by Parques Eolicos Gestinver. The turbines power five wind parks in Lugo, Coruna and Tarragona.

  • According to data from the European Wind Energy Association (EWEA) less than 30MW of wind capacity was installed over 2014, year-on-year growth of just 0.1% and significantly below previous historic installation levels.It was announced in October 2014 that Gamma Solutions secured a contract to build and operate a 200MW solar park...

Table of Contents

BMI Industry View
Industry Forecast
Spain Renewables Forecast Scenario
Table: Spain Total Electricity Generation Historical Data & Forecasts, 2013-2018
Table: Spain Total Electricity Generation Long-Term Forecasts, 2019-2024
Table: Spain Electricity Generating Capacity, Historical Data & Forecasts, 2013-2018
Table: Spain Electricity Generating Capacity Long-Term Forecasts, 2019-2024
Spain Renewables Projects Database
Table: Spain Project Pipeline
Industry Risk/Reward Index
Spain Renewables Risk/Reward Index
Market Overview
Sustainable Energy Policy and Infrastructure
Targets (Renewables And Emissions)
Competitive Landscape
Table: Glossary Of Terms
Methodology And Sources
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Renewables Risk/Reward Index Indicators
Table: Weighting Indicators

The Spain Renewables Report researched at source contains BMI Research's assessment of the current renewables market in Spain. The report also contains historical data together with forecasts to end-2018 covering electricity generation (TWh) and electricity capacity (MW).

The renewables sectors covered in the report include Wind, Solar, Geothermal, Tidal and Wave, and Biomass (See Table of Contents for exact coverage). The report also features details on government green energy agendas and funding opportunities, as well as presenting a detailed list of key renewables projects currently being planned or undertaken in Spain, their capacity, the timeframe of construction and their current status.

The report discusses the various energy policies currently in force, including targets, subsidies and the relevant infrastructure developments or limitations which might impact on renewables growth, analysing the potential effects of regulatory changes in conjunction with the background macroeconomic outlook. Finally, there is a general overview of the competitive landscape in Spain, together with a detailed summary of the main utilities and manufacturers present and their business operations.

BMI's Spain Renewables Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with unique independent forecasts and competitive intelligence on the Spain renewables industry.

Key Benefits

  • Benchmark BMI's independent renewables industry forecasts for Spain to test other views - a key input for successful budgeting and planning in the renewables market.
  • Target business opportunities and risks in the Spain renewables sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in the country.


BMI Industry View

Summary of BMI's key industry forecasts, views and trend analysis covering the renewables market in Spain, regulatory changes, major investments and projects and significant multinational and national company developments.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the renewables sector and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series (2010-2012) and forecasts to end-2018 for electricity generation (TWh) and electricity generating capacity (MW) for each individual renewables sector present in the country.

These in turn are broken down into:

Electricity Generation: Overall capacity (TWh), growth % change year-on-year, KWh per capita, % of Total Non-Hydropower renewables generation, % of total electricity generation.

Electricity Capacity: Overall capacity (MW), growth % change year-on-year, % of non-hydroelectric renewables capacity and % of total capacity.

These forecasts are in turn supported by explicit assumptions, in conjunction with analysis of the key risks to the main forecast.

Business Environment Rankings

BMI's Renewables Business Environment Rankings provide fully comparable Risk-Reward Rankings aimed at investors in the regional renewables market.

The rankings methodology makes sophisticated use of various industry, economic and demographic data point.

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'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc