Spanish market comes back from the brink

Written on 14 Sep 2017

Osborne Clarke are proud sponsors of inspiratia’s riskWatch which assesses the risk of investing in renewables energy projects in the most active markets globally. Please see below an extract from inspiratia’s latest report on the Spanish renewables market.

Spain has climbed to the pinnacle of the renewables landscape once already, only to fall dramatically. It is now on its way back to the summit after three highly successful auctions. However, the glut of new projects bring with them their own risks. Nevertheless, Spain’s riskWatch score has increased substantially to 70.17%, with a positive outlook

The Spanish renewables market finds itself well and truly back in the fold after a few years in the doldrums. Investment activity almost entirely dried up, save for some M&A deals, following a moratorium on incentives offered to new greenfield projects, as well as retroactive cuts to those already developed.

Now, one could be forgiven for thinking that nothing of the sort ever occurred as market players from all sides of the industry return to a country that is currently embarking on something of a second renewables boom.

Grabbing the headlines, of course, are the trio of highly successful renewable energy auctions held since the beginning of 2016, awarding power contracts to almost 9GW of new capacity across the onshore wind, solar and biomass sectors.

Spanish market comes back from the brink. Please contact one of Osborne Clarke’s experts below to request a full copy of the inspiratia report.

About inspiratia: inspiratia provides real-time data, forward-looking analysis, and timely market news relating to global and renewables sectors.