• 4 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 7 minutes Countries with the most oil and where they're selling it
  • 10 minutes Stack gas analyzers
  • 13 minutes What Would Happen If the World Ran Out of Crude Oil?
  • 26 mins Trudeau Faces a New Foe as Conservatives Retake Power in Alberta
  • 19 mins Ecoside
  • 17 hours Oil at $40
  • 1 day Welcome To The Club: Apple In Talks With Potential Suppliers Of Sensors For Self-Driving Cars
  • 1 hour Not Just Nuke: Cheap Solar Panels Power Consumer Appliance Boom In North Korea
  • 3 hours Japan’s Deflation Mindset Could Be Contagious
  • 1 hour Haaretz article series _ Saudi Arabia: A Kingdom in Turmoil | Part 1 - Oil Empire
  • 1 day Guaido and the Conoco Award
  • 6 hours The Number Increases: Swiss To Support Belt And Road Push During President's China Trip
  • 1 day Trump Torpedos Oil Pipeline Haters
  • 18 hours Is Canada hosed?
  • 1 day Opening up the waters off the coast of Florida to oil and gas drilling
  • 1 day Negative Gas Prices in the Permian

Spain Plans Large Grid Investments To Integrate Renewables

power plant

Spain’s grid operator will invest billions of U.S. dollars by 2022 to accommodate and integrate a planned increase in the country’s renewable energy capacity, the grid operator Red Eléctrica de España said this week.

Spain has an ambitious climate and renewables plan, which targets to have the country’s power generation go 100-percent renewable by 2050, and cut carbon emissions by 90 percent compared to 1990.

As an interim target, by 2030, Spain plans to achieve a 21-percent reduction in greenhouse gas (GHG) emissions compared to 1990, have the share of renewables in final energy consumption at 42 percent, and generate 74 percent of its electricity from renewable energy sources.  

This plan, however, has been put forward by the Socialist government, whose 2019 budget was defeated in Parliament last month, resulting in Prime Minister Pedro Sánchez calling a snap election which will be held at the end of April.

As José Rojo Martín of PV-Tech notes, the outcome of the elections will determine if the ambitious renewables plan will become reality.

Nevertheless, the grid operator Red Eléctrica de España will invest a total of US$3.64 billion (3.221 billion euro) by 2022 in making the energy transition possible, it said in a statement on Thursday.

The planned investment for accommodating renewables accounts for more than half, or 53 percent, of the total US$6.8 billion (6 billion euro) investments the company will make by 2022.  

Nearly half of the grid operator’s energy transition investment—US$1.7 billion (1.5 billion euro)—will go to integration of renewable capacity through new connections and access points. Another US$1 billion (908 million euro) is earmarked to boost the reliability of the system and security of electricity supply, US$490 million (434 million euro) will go to digitalization and technology, US$243 million (215 million euro) to energy storage projects, and US$61 million (54 million euro) to energy control systems.  

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News