Posted on 30 Jun 2023
Spain is gearing up to nearly triple its 2030 green hydrogen goals according to a draft of the country’s updated energy and climate plan, Kallanish finds.
From its early target of 4 gigawatts (GW), Spain now plans to install 11 GW of electrolysers to boost its green hydrogen production by 2030. In addition, the new plan seeks to increase wind generation capacity to 62 GW, solar photovoltaic to 76 GW and battery storage to 22 GW. The European country also aims to double its biogas production target to 20 terawatt-hours (TWh).
The draft, published on Wednesday, adds that renewables would account for 81% of the country’s electricity by the end of the decade. With these measures, the Spanish government aims to achieve carbon neutrality before 2050. Furthermore, it is increasing its emission reduction targets to 32% by 2030, from the previous 23%.
The government says the proposal is expected to “reinforce the industrial value chain and the strategic autonomy of the country,” create over half a million jobs and improve the citizens’ health by reducing air pollution.
Overall, the proposal would require investments to the tune of €294 billion ($321 billion), with 85% of it expected from the private sector. The remaining will come from public funds, including 11% from European Union funds. The majority of the investments (40%) will go into renewable energies, the draft adds.
The proposal is up for public consultation until 4 September, with the final plan due in June 2024.
The update to Spain’s climate strategy comes weeks before the country is to hold a general election, the run-up to which has seen energy becoming a key topic of debate. The People’s Party (PP), the current opposition, has pledged to extend the use of nuclear plants the Spanish government wants to phase out from 2027.
Spain, meanwhile, has been cementing its position as a key European hydrogen producer in recent months. The Spanish energy company Cepsa, for instance, partnered with Yara Clean Ammonia (YCA) this month to set up a green hydrogen corridor between the ports of Algeciras, Spain, and Rotterdam, the Netherlands.
Source:Kallanish
