Spain’s renewables auction failed. So what? Report

Insight 08 December 2022

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Report summary

This insight analyses the results of the 2022 Spanish renewables auction round that targeted 3.3 GW of new onshore wind power and PV capacity. The tender was heavily undersubscribed and awarded contracts to less than 50 MW of wind projects. The note examines the underlying reasons for the lack of successful bids by developers, looking at market pricing dynamic and development pipelines in Spain. Furthermore, it explores the implications of the poor result for the renewables market in Spain. Lastly, this analysis posits potential policy outcomes in the aftermath of the tender.