April 12, 2024

Spain Achieves Record 50% Renewable Power Generation in 2023

In a significant milestone for the country, Spain generated more than half of its electricity from renewable sources in 2023. According to data released by the Red Electrica Espanola (REE), renewable energy accounted for nearly 135,000 GWh, equivalent to 50.4% of the overall national energy mix. This figure marks an increase of eight points from the previous year’s 42.2% and represents the first time Spain has surpassed the 50% threshold for renewable electricity.

Of the renewable sources, wind power remained the leading contributor for the second consecutive year, generating 63,000 GWh, or 23.3% of the total electricity produced in Spain. Solar power installations followed closely behind, contributing 37,000 GWh, or 14% of the overall total. The figure for hydropower stood at 9.5%.

In terms of other energy sources, nuclear power accounted for 20.3% of the total, remaining stable from previous years. However, the share of gas-generated power decreased by seven points to 17.2%.

The data reflects Spain’s progress in transitioning towards a greener energy landscape. Beatriz Corredor, the head of REE’s parent company Redeia, described the figures as irrefutable proof of the country’s advancement in the green transition. The government of Prime Minister Pedro Sanchez has set a target of generating 74% of Spain’s overall electricity production from renewable sources by 2030. With Spain’s abundant sunshine and wind resources, this goal is considered attainable.

Since the announcement of the target, there has been a surge in the development of large-scale solar installations and wind farms across the country, particularly in the less densely populated northern and central regions. These projects have received significant investments and have contributed to Spain becoming one of the European leaders in renewable power capacity.

The news comes shortly after Germany released preliminary figures in mid-December, revealing that renewable energy accounted for over 50% of the country’s total electricity generation in 2023.

The increasing share of renewable power in Spain’s energy mix reflects the global trend towards cleaner energy sources. As more countries prioritize sustainability and transition away from fossil fuels, the growth of renewable energy is expected to continue. Achieving these targets will not only contribute to reducing greenhouse gas emissions but also create new job opportunities and foster economic growth in the renewable energy sector. Spain’s achievement serves as an example for other nations looking to transition to a more sustainable energy future.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it