Spain increases the cap on grid investments through 2030

Sara Aagesen, Energy Minister of Spain, said that the Spanish government intends to raise a limit on how much investment companies can make in electricity grids until 2030. She expects trunk network investments to be worth 15,94 billion euros (13.59 billion euro).

The massive blackout in Spain and Portugal that occurred on April 28, has reignited the debate over investment requirements for power networks.

According to Spanish law, energy companies are only allowed to invest a limited amount in networks each year, as the costs will ultimately be borne by the consumers.

Aagesen said that Aagesen expects the country to add 27,7 GW new demand for the transport grid by 2030.

She said that the massive growth in renewable energy generation over the last few years has paved the way for a new planning whose foundation will be a new demand.

Aagesen stated that the government would set up a group to optimise the use of their networks. He added that between 2020 and 2024, the country had granted access to its power networks for 43 GW worth of new demand.

(source: Reuters)