Spain could become a business mecca thanks to renewable energy sources

A few days ago we published this report, in which we explained the opportunity that Spain has to diversify its economy through the renewable energy industry. The stunning collapse in electricity prices in recent weeks, caused by a sweltering wind farm, is the perfect opportunity to talk about another key our country has to reach for a promising future: The huge appeal of electricity-intensive companies thanks to ultra-competitive “green” energy.

In February of this year, a “gust of wind” blessed our electricity bills. The arrival of a cold front on the peninsula accompanied by strong storms doubled the output of wind turbines, leading to flooding. mix up The electricity supply ‘verde’ with the price of delivery: 25 tons of token stock and an annual fondo of 3.06 euros for a megawatt hour (MW/h), and 26 colors of raquitismo continuing with 3.82 € MW/h duration. all day. On Tuesday the 27th, the closing date of this edition, the cost was 3.66 megawatt-hours.

And in Europe? Prices on Tuesday in all surrounding countries ranged from around €86 MWh in Poland and €33 MWh in Norway, through to €75 MWh in Germany or €68.5 MWh in France. That’s how big the difference is, except for our closest neighbour, Portugal, which also recorded 3.66 MWh.

LA SOLAR, a luxurious alternative to the renewable energy “seat”.

It is true that these numbers are the product of a temporary climate condition that will not continue over time, but the truth is that For several days this month, one of the most energy-stressful months of the year, Spanish electricity was dozens of times cheaper than its European counterparts. The key was not uranium isotopes, coal combustion, or hydrocarbon burning, but wind blowing. A very clean, harmless and, above all, cheap power; All the ingredients needed to make businesses of all sizes fall in love with you.

In addition, apart from the maximum peak in generation, the wind sector also gives “bulk volume” in the annual balance. This comes after a macroeconomic study of the impact of the wind sector in Spain, which it prepared Deloitte to Association of Wind Business (AEE)which puts wind electricity generation in Spain at 61,069 gigawatt hours (GW/h) in 2022, representing a demand coverage of 24%, compared to 8% in 2005. In this way, This was the second technology in the energy mix.

Wind turbines, on the other hand, are just one more ingredient in the renewable cocktail. When the wind loses its strength, the sun will shine brightly, powering the photovoltaic gardens which also contribute to lowering the cost of supply. Helios and Elo replace each other on the Spanish Energy Olympus, which, as if that were not enough, also has a powerful hydroelectric plant thanks to the rugged terrain and large number of waterfalls.

“The panorama is competitive and interesting to attract companies from sectors that use electrical energy, such as the steel industry, food distribution in all its branches, the chemical industry, and data storage.”

Antonio Asituno, Managing Director of Tempos Energía

“The panorama is competitive and interesting to attract companies that rely on electricity-intensive energy, those companies whose production activity involves significant expenditures for electricity and gas.” The words are from Antonio AcetonoGeneral Manager of Energy Consulting Tempus energywho, in the statements of L MERCA2lists briefly The industrial sectors represented by these prices have a huge competitive advantage: “all”.

In the manager’s eyes, all industrial activities with power consumption exceeding 10 GW would be a heaven in a country that offers prices below 4 MWh with some frequency. “A large industrial company can consume about 100,000 MWh per year,” he explains, “and at rates like the current ones, an entity like Acerinox can save almost a million euros in energy.”

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The Aceituno website provides some examples of electricity-intensive production activities that could be tempted by demolition prices derived from renewable energy sources: «Steel industry, food distribution in all its branches, chemical industry and data storage». All are sectors with a strong supply of good jobs and significant added value.

Networking, backup alternatives, and pending topics

The director of Tempos Energía is very optimistic about the future, highlighting the “43 GW of renewable energy sources that will be installed in the coming years”, which he expects will make Spanish energy an affordable commodity and give our country a captivating appeal. Investor. But this information is questioned by his counterpart in Association of Enterprises with Large Energy Consumers (AEGE), Pedro Gonzalezwho doubts the possibility of achieving such power and qualifies the true scope of the “Iberian Electrobicoca”.

“It would be desirable to be able to offer a price that is separate from thermal energy and subject to renewables; “But it is necessary to be able to do this in a consistent and stable way.”

Pedro Gonzalez, General Manager of AEGE

“There is no doubt that the interest is there, but it remains to be seen whether 43 GW of wind and solar power will be achieved,” he expressed during his talk with MERCA2– “next to, The price of energy is not just what we see in the market; “We must add the cost of the modifications made by Red Eléctrica.”

“It would be desirable to be able to offer a price that is separate from thermal energy and subject to renewables; “But it is essential that we are able to do this in a consistent and stable way,” says Gonzalez. The AEGE director makes this target subject to industries settling in Spain to share a commitment to decarbonisation “in all their production processes”, for which “public support” is essential. The expert also sees another obstacle in the way, which is “insufficient network capacity.”This is a position shared by practically the entire electricity sector.

Although Acetuino is more enthusiastic than his colleague, he places “duties” on the referee: “If Spain wants to become an economic power, it must have cheap energy, and this is a condition.” Not without a horse» -He confirms- «So “It is essential to have backup alternatives to renewable energy sources, such as combined cycle plants.”

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