Spain is on track to generate more than half of its power from renewable sources this year, becoming the first of the top five European countries by power demand to accomplish this feat, according to Rystad Energy forecasts on Wednesday.
The country's renewable-sourced generation is expected to surpass the 50% average in 2023, beating France, Germany, Italy and the UK.
'Spain's renewable energy achievements come as no surprise given its history of strategic investments and early adoption,' Fabian Ronningen, senior renewables and power analyst at Rystad Energy said.
Spain holds the second position in onshore wind installations in Europe, following Germany.
Onshore wind technology currently accounts for more than 20% of Spain's power generation, along with hydropower, which used to be Spain's largest source of renewable energy, at 10%.
In a bid to transition towards cleaner energy sources, Spain made significant strides in reducing its reliance on fossil fuels.
Spain has made notable progress in phasing out coal-fired generation. Also, the country's nuclear power plants continue to provide a stable baseload, with a planned phase-out scheduled for 2035.
The decline in exports and domestic power demand in 2023, along with a reduction in gas-fired generation in Spain, will further boost the role of renewables in the energy mix.
'Spain's gradual transition from a net importer to a net exporter of power not only signifies the nation’s growing prominence in the European energy landscape but also underscores its journey towards becoming a key player in the global energy market,' Rystad Energy said.
By Zeynep Beyza Kilic
Anadolu Agency
energy@aa.com.tr