Spain’s Renewable Energy: Outlook and Business Opportunities

This study reviews the current situation of the electricity sector and specifically renewable energy sources in Spain, as well as future trends and opportunities for Thai companies in the said sector.

Spain is currently one of the leaders in renewable energy. In 2021 the installed electricity power in Spain is 107,505 MW, with a 58.6% share of renewable technologies. Renewable electricity generation in 2030 is expected to account for 74% of the total, increasing the installed capacity in the electricity system to 160,837 MW in 2030. The major renewable energy sources in Spain are wind energy (23%) and solar energy (8%).

Spain is open to foreign investment in the renewable energy market which has a tendency to grow continuously. According to Grupo Trebol Energía’s analysis, the investment opportunities in renewable energy/ related business in Spain for Thai private sector could be divided in 3 types, namely, 1) investment in hydrogen energy production, 2) electric vehicles and recharging points and, 3) storage, batteries and other components.

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