The Council of Ministers approved today the Royal Decree Law, which extends the current value of the reasonable profitability of renewable energy, cogeneration and waste facilities for the next 12 years.
The approval of the RDL facilitates the contribution of renewable energies in our energy system to meet the objectives set out in the draft PNIEC, and address the objectives of increasing renewables to 2030 and 2050 set by the EU. The RDL is an important measure to strengthen legal security for wind power facilities and a fundamental basis for building investor confidence in the face of the challenge of financing the planned energy transition in the PNIEC.
The RDL deserves a positive assessment in that it seeks to guarantee a stable regulatory and economic framework for the development of renewable energies. Predictability and regulatory stability are essential factors, widely demanded by the wind sector, without which it would be impossible to reach the level of investment and the thrust that will be necessary in the coming years for the energy transition that Spain must undertake.
Wind energy, like the rest of renewable energies, requires energy planning with the different actors aligned, which provides regulatory and remunerative security. The Spanish Energy Transition requires a continuous investment over time of billions of euros per year in renewable energy and energy efficiency. For this type of investment flows to be possible, it is necessary to safeguard the trust of companies. Wind power is expected to double its installed capacity by 2030, which requires an investment and stability that makes possible the installation of approximately 2,200 MW / year.
The consensus between the main political forces is fundamental for the validation in the RDL Congress. This political consensus is a turning point for a decarbonized economy and the development of renewables in our country. It will be an incentive to attract long-term investments and will give stability to the investments that are not necessary to decarbonize the economy. The measures that give investors confidence end up lowering the financing of the facilities.
The wind sector coincides with the rest of the renewable energies in showing all its interest and commitment to a regulatory framework, which generates trust and stability, with long-term visibility that facilitates investments. The RDL approved today is a step in the right direction and, in part, has been the result of dialogue between institutions and industry, a requirement for the success of the desired energy planning.
After the publication in BOE of the RDL, AEE will make a valuation and analysis in detail about the content of the same and its repercussion for the wind sector.
The Spanish Wind Energy Association (AEE) is the voice of the wind sector in Spain and defends its interests. With nearly 200 associated companies, it represents more than 90% of the sector in the country, which includes developers, manufacturers of wind turbines and components, national and regional associations, organizations linked to the sector, consultants, lawyers and financial and insurance entities, among others.