Ørsted has finalised four partnerships to develop early-stage solar and onshore wind projects across Spain by participating in upcoming grid auctions. The company has signed partnerships with Glide Energy, Rolwind, ARBA Energías Renovables and Ereda. To support this strategy, Ørsted has established a team and an office in Madrid.
By 2030, the Spanish government intends to generate 70 per cent of the country’s power from renewable sources, and by 2050, it aims to reach 100 per cent renewable generation. Spain plans to install 3 GW of floating offshore wind capacity, 50 GW of onshore wind capacity, and 39 GW of solar capacity by 2030 in order to achieve this target.
As per the company’s statement, the partnerships’ short-term goal is to develop onshore wind and solar photovoltaic (PV) facilities in Spain. In the long run, the company plans to develop large-scale onshore wind, solar PV, and energy storage facilities that could be commercialised through a government auction or through corporate power purchase agreements. The grid auction in Spain is expected to take place in 2022.
In April 2022, Ørsted signed an option agreement with Falck Renewables and BlueFloat Energy to develop an offshore wind site off Scotland’s north-east coast. The companies signed the agreement with Crown Estate Scotland (CES). The deal comprises the construction of a floating wind farm with a capacity of up to 1 GW, which was secured in the latest ScotWind offshore wind leasing round.
REGlobal’s Views: This development marks Ørsted’s entry in the Spanish onshore market after the company announced its intentions to explore floating offshore wind opportunities in Spain in April 2022.
