NECP (National Energy and Climate Plan) has been revised by the Spanish government, with a significant increase in renewable energy and green hydrogen targets for 2030.
The draft, published by the Ministry of Ecological Transition (MITECO) this week, sets a more ambitious target of reducing greenhouse gas emissions by 32% by 2030, a substantial increase from the original target of a 23% reduction based on 1990 levels. By then, renewable energy will make up 48% of final energy consumption and 81% of electricity generation.
A total installed capacity of 214 GW in the electricity sector is planned for 2030, with 160 GW coming from renewable sources and 22 GW from storage. Wind energy capacity is expected to reach 62 GW by 2030, including 3 GW from offshore wind farms. Spain plans to contribute 76 GW of photovoltaic solar power by the end of this decade, including 19 GW for self-consumption.
Hydropower is estimated to account for 14.5 GW, while solar thermal power will account for 4.8 GW.
As a result of the revised plan, the electrolysis capacity for green hydrogen production has nearly tripled to 11 GW from 4 GW previously.
A revised version of the plan estimates EUR 294 billion in investments, 85% from private sources and 15% from public funds, including 11% from EU funds.
The total amount will be allocated 40% to renewable energy, 29% to energy savings and efficiency, 18% to energy networks, and 12% to electrification.
Currently, the draft is open for public input, and the consultation period will last until September 4. The final document must be submitted to the European Commission by June 2024.
Source: Renewables Now