The Spanish case: Accelerating the energy transition to seize the opportunities
The energy sector accounts for around 75% of the global greenhouse gas emissions, showcasing the importance of the energy transition in the fight against climate change. According to the IEA, renewable capacity must triple by 2030 in order to keep global warming below 1.5º C. A faster and more ambitious energy transition is therefore crucial to meet the climate targets. In this context, renewable energy technologies are deploying at a fast pace: last 2022 set a record for renewable production, enhanced by solar and wind energy and, as specified by the latest World Energy Outlook published by the IEA in 2023, more than 500 GW of renewable installed capacity are set to be added in 2023, which also establishes a new record. The energy transition is not only positive from a climate perspective, but it also entails great economic opportunities. A decarbonised energy system will reduce dependence on external energy suppliers, which will translate into lower and less volatile energy prices, enhancing the competitiveness of the EU industry in global markets.
The European Union, and in particular Spain, are global frontrunners in the deployment of a decarbonised energy system. The normative and financial framework provided by the EU through policy packages such as the Fit for 55 or RePowerEU has supported ambitious decarbonisation policies in Spain. As sign of this increased ambition, the latest update of the Spanish NECP establishes an objective of 81% of renewable generation for 2030, and an installed capacity of 62 GW for wind power and 76 GW for solar power for the same year. This is just one of many examples that illustrate the commitment of Spain with an accelerated energy transition. Current policy files being discussed under the Spanish Presidency of the EU Council such as the Electricity Market Design Regulation, the Net Zero Industry Act or the Critical Raw Materials Act will further expand this framework.
This event aims to present the Spanish case as an example of commitment to a faster and more ambitious energy transition. Participants will have the opportunity to discuss the advantages that come along with an accelerated decarbonisation of the energy system and debate on further lines of action that should be pursued to achieve the climate goals, while preserving economic competitiveness.
Sara Aagesen / Secretary of State for Energy Spain
- Cristina Rivero / CEOE
- Gonzalo Sáenz de Miera / Spanish Green Growth Group
- José Donoso / UNEF
- Eva Pagán / REDEIA