During the Panel 7 “Boosting Demand and New Opportunities: PPAs, Data Centres and Public Policy” at FES Iberia 2025, Óscar Martín Pacios, Chief Financial Officer of Ingenostrum, offered a precise diagnosis of the current challenges in aligning Spain’s growing renewable generation with the rising energy demand from large-scale consumers such as data centres.

“The energy generation sector is currently facing obstacles such as price volatility and increasingly frequent curtailments”, stated Martín Pacios. What’s concerning, he added, is that “we remain energy surplus”, even as electricity demand in Spain rose by just 0.9% in 2024.

In this scenario, the emergence of high-demand consumers like data centres represents a major opportunity to balance the system, although “we haven’t yet found the right connection” between generation and demand, he warned.

Data centres as system-stabilising actors

For Ingenostrum, the role of data centres extends far beyond consumption. “They are a solution to stabilise a very particular power system, like the Iberian one”, the CFO asserted, noting that their continuous and predictable demand contributes significantly to grid efficiency and manageability.

As such, Martín Pacios argued that data centres should be recognised as priority projects, given their potential to revitalise electricity demand and support the scaling of renewables. “The renewables sector is looking for increased demand, and data centres are clearly a necessary part of the solution”, he stressed.

The regulation must evolve with the energy landscape

One of Martín Pacios’s core messages was the pressing need to adapt Spain’s regulatory framework to the current dynamics of the energy market. “The regulation no longer reflects today’s reality”, he warned, adding that “it makes no distinction whether a grid connection is requested by a green hydrogen project, an agri-food industry, or a data centre”.

This lack of differentiation, he explained, hinders the development of strategic initiatives. Therefore, he advocated for a deep review process that reflects the unique technical profiles and requirements of each type of project. “It’s crucial to conduct a thorough analysis of what each project needs and to act accordingly”, he added.

The value of joint planning

Alongside regulatory adaptation, Ingenostrum also underscored the importance of collective energy planning, involving all relevant stakeholders across the sector. “Planning is one of the key words here”, Martín Pacios affirmed.

The objective, he noted, is to ensure joint progress among all public and private entities that shape the energy landscape, guaranteeing that both infrastructure and regulation keep pace with industrial and technological expansion.

A call for collaboration and forward-looking regulation

Martín Pacios’s remarks were delivered as part of FES Iberia 2025, one of Europe’s flagship events for the energy sector, where key issues such as electrification, PPAs, energy storage and grid modernisation were debated.

Closing his intervention, Ingenostrum’s CFO issued a strong call for public-private collaboration and regulatory foresight:
“We need to modernise the regulatory framework—not only to align with decarbonisation targets, but also to support economic growth and strengthen the power grid”.

Watch the full panel: