October 30, 2024Energy generation records in Europe and the United Kingdom in the third quarter of 2024

United Kingdom
Energy generation records in Europe and the United Kingdom in the third quarter of 2024

The third quarter of 2024 was a period of significant milestones for energy generation on the continent, highlighting a historic increase in solar and wind power production, alongside a reduction in fossil fuel generation. Below, *Energía Estratégica España* analyzes the main points of the quarterly report from Montel Analytics on the European electricity markets.

October 30, 2024The EIB and Red Eléctrica promote the Salto de Chira hydroelectric power plant with a €300 million loan

Spain
The EIB and Red Eléctrica promote the Salto de Chira hydroelectric power plant with a €300 million loan

It is a cutting-edge project that combines a 200 MW pumped-storage hydroelectric power plant with a desalination plant, and it is strategic for Gran Canaria. It will strengthen the island’s electrical system and provide crucial support for the guarantee and security of the electricity supply, a key issue for citizens and businesses.

October 29, 2024Planning and grid development as key to renewable growth in France

France
Planning and grid development as key to renewable growth in France

With the goal of reaching 35% of renewables and 58% of low-carbon energy in its energy mix by 2030, France is driving a strategic planning process for its electricity grid and the development of key infrastructure in offshore wind, nuclear, and hydroelectric energy. “It is essential to anticipate and plan generation and grid capacities for the energy transition,” states Cecil Coulet, Head of EU Public Affairs at EdEn (Équilibre des Énergies).

October 29, 2024APREN calls for a “robust PPA market” and faster licensing to meet the PNEC 2030 targets.

Portugal
APREN calls for a “robust PPA market” and faster licensing to meet the PNEC 2030 targets.

The Portuguese Renewable Energy Association highlights the importance of the Portuguese government supporting contracts to contribute to the bankability of projects. Additionally, they emphasize the need to speed up licensing processes and modernize the electrical grid to achieve the 20.8 GW of solar and 10.4 GW of onshore wind proposed in the PNEC 2030.

October 28, 2024Renewables boosted their net savings in the electricity system by 41%, reaching 9.5 billion

Spain
Renewables boosted their net savings in the electricity system by 41%, reaching 9.5 billion

Wind and hydropower stopped receiving incentives in 2023, which led to a specific renewable compensation of 3.170 million euros and market savings of 12.745 million euros. The drop in electricity prices, from 167.52 €/MWh in 2022 to 87.10 €/MWh in 2023, reduced the sector’s contribution to GDP to 16.495 million euros, accounting for 1.13% of the national GDP.

October 25, 2024Iberian competition: improvements in infrastructure and taxation to continue attracting renewable investments

Portugal
Iberian competition: improvements in infrastructure and taxation to continue attracting renewable investments

Following Repsol’s announcement to prioritize investments in Portugal, Bianca Dragomir, Director of Cleantech for Iberia, emphasizes that the Iberian Peninsula has exceptional potential to become a hub for clean technologies. However, she highlights the need to improve infrastructure and interconnections, as well as maintain fiscal competitiveness to attract more renewable energy investments.

October 24, 2024Greece faces volatility in energy prices with average rates of 83 €/MWh.

Greece
Greece faces volatility in energy prices with average rates of 83 €/MWh.

Antonio Delgado Rigal, CEO of Aleasoft, points out that during the first twenty days of October, the average energy price in Greece was 83.8 €/MWh, with hourly values fluctuating between 0.04 €/MWh and 268.9 €/MWh. He also states that the country has accelerated the integration of renewable sources, such as solar and wind, and is promoting storage technologies to balance supply and demand in order to avoid price spikes.

October 23, 2024Romania must install 1 GW per year of wind and solar energy to reach its 2030 targets

Romania
Romania must install 1 GW per year of wind and solar energy to reach its 2030 targets

The Sustainable Renewable Energy Association (APERS) reports that there is currently 3.4 GW of installed wind power and 1.5 GW of photovoltaic solar power in Romania. The Romanian government aims to reach 7 GW of wind and 6 GW of solar energy by 2030, as part of the Energy and Climate Plan. This means that 450 MW of wind and 560 MW of photovoltaic solar power need to be installed annually through the end of the decade.

October 22, 2024AELEC Highlights Investment in Electric Grids as a Priority for the New National Energy Commission

Spain
AELEC Highlights Investment in Electric Grids as a Priority for the New National Energy Commission

The government has approved the draft bill to reinstate the National Energy Commission (CNE). In this context, the Association of Electric Energy Companies (aelēc) emphasizes that the commission’s focus should be on electric grids and that it should encourage investments in this area through remuneration models. Additionally, Marina Serrano, president of the association, indicates that the commission must also prioritize measures related to access and connection capacity to the grids, for both generation and demand.

October 22, 2024Global Competitiveness of Renewable LCOE Continues to Accelerate

Europe
Global Competitiveness of Renewable LCOE Continues to Accelerate

For solar photovoltaic energy, the LCOE of fixed-axis systems averages $66/MWh globally, with a wide range from $28/MWh to $117/MWh, reflecting the influence of geography, technological advancements, and regional market conditions. Single-axis tracking photovoltaic systems perform slightly better, with an average of $60/MWh and a range from $31/MWh to $103/MWh, reinforcing their growing role in utility-scale projects.

October 30, 2024Energy generation records in Europe and the United Kingdom in the third quarter of 2024

United Kingdom
Energy generation records in Europe and the United Kingdom in the third quarter of 2024

The third quarter of 2024 was a period of significant milestones for energy generation on the continent, highlighting a historic increase in solar and wind power production, alongside a reduction in fossil fuel generation. Below, *Energía Estratégica España* analyzes the main points of the quarterly report from Montel Analytics on the European electricity markets.

October 30, 2024The EIB and Red Eléctrica promote the Salto de Chira hydroelectric power plant with a €300 million loan

Spain
The EIB and Red Eléctrica promote the Salto de Chira hydroelectric power plant with a €300 million loan

It is a cutting-edge project that combines a 200 MW pumped-storage hydroelectric power plant with a desalination plant, and it is strategic for Gran Canaria. It will strengthen the island’s electrical system and provide crucial support for the guarantee and security of the electricity supply, a key issue for citizens and businesses.

October 29, 2024Planning and grid development as key to renewable growth in France

France
Planning and grid development as key to renewable growth in France

With the goal of reaching 35% of renewables and 58% of low-carbon energy in its energy mix by 2030, France is driving a strategic planning process for its electricity grid and the development of key infrastructure in offshore wind, nuclear, and hydroelectric energy. “It is essential to anticipate and plan generation and grid capacities for the energy transition,” states Cecil Coulet, Head of EU Public Affairs at EdEn (Équilibre des Énergies).

October 29, 2024APREN calls for a “robust PPA market” and faster licensing to meet the PNEC 2030 targets.

Portugal
APREN calls for a “robust PPA market” and faster licensing to meet the PNEC 2030 targets.

The Portuguese Renewable Energy Association highlights the importance of the Portuguese government supporting contracts to contribute to the bankability of projects. Additionally, they emphasize the need to speed up licensing processes and modernize the electrical grid to achieve the 20.8 GW of solar and 10.4 GW of onshore wind proposed in the PNEC 2030.

October 28, 2024Renewables boosted their net savings in the electricity system by 41%, reaching 9.5 billion

Spain
Renewables boosted their net savings in the electricity system by 41%, reaching 9.5 billion

Wind and hydropower stopped receiving incentives in 2023, which led to a specific renewable compensation of 3.170 million euros and market savings of 12.745 million euros. The drop in electricity prices, from 167.52 €/MWh in 2022 to 87.10 €/MWh in 2023, reduced the sector’s contribution to GDP to 16.495 million euros, accounting for 1.13% of the national GDP.

October 25, 2024Iberian competition: improvements in infrastructure and taxation to continue attracting renewable investments

Portugal
Iberian competition: improvements in infrastructure and taxation to continue attracting renewable investments

Following Repsol’s announcement to prioritize investments in Portugal, Bianca Dragomir, Director of Cleantech for Iberia, emphasizes that the Iberian Peninsula has exceptional potential to become a hub for clean technologies. However, she highlights the need to improve infrastructure and interconnections, as well as maintain fiscal competitiveness to attract more renewable energy investments.

October 24, 2024Greece faces volatility in energy prices with average rates of 83 €/MWh.

Greece
Greece faces volatility in energy prices with average rates of 83 €/MWh.

Antonio Delgado Rigal, CEO of Aleasoft, points out that during the first twenty days of October, the average energy price in Greece was 83.8 €/MWh, with hourly values fluctuating between 0.04 €/MWh and 268.9 €/MWh. He also states that the country has accelerated the integration of renewable sources, such as solar and wind, and is promoting storage technologies to balance supply and demand in order to avoid price spikes.

October 23, 2024Romania must install 1 GW per year of wind and solar energy to reach its 2030 targets

Romania
Romania must install 1 GW per year of wind and solar energy to reach its 2030 targets

The Sustainable Renewable Energy Association (APERS) reports that there is currently 3.4 GW of installed wind power and 1.5 GW of photovoltaic solar power in Romania. The Romanian government aims to reach 7 GW of wind and 6 GW of solar energy by 2030, as part of the Energy and Climate Plan. This means that 450 MW of wind and 560 MW of photovoltaic solar power need to be installed annually through the end of the decade.

October 22, 2024AELEC Highlights Investment in Electric Grids as a Priority for the New National Energy Commission

Spain
AELEC Highlights Investment in Electric Grids as a Priority for the New National Energy Commission

The government has approved the draft bill to reinstate the National Energy Commission (CNE). In this context, the Association of Electric Energy Companies (aelēc) emphasizes that the commission’s focus should be on electric grids and that it should encourage investments in this area through remuneration models. Additionally, Marina Serrano, president of the association, indicates that the commission must also prioritize measures related to access and connection capacity to the grids, for both generation and demand.

October 22, 2024Global Competitiveness of Renewable LCOE Continues to Accelerate

Europe
Global Competitiveness of Renewable LCOE Continues to Accelerate

For solar photovoltaic energy, the LCOE of fixed-axis systems averages $66/MWh globally, with a wide range from $28/MWh to $117/MWh, reflecting the influence of geography, technological advancements, and regional market conditions. Single-axis tracking photovoltaic systems perform slightly better, with an average of $60/MWh and a range from $31/MWh to $103/MWh, reinforcing their growing role in utility-scale projects.

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