The Spanish Government, led by Prime Minister Pedro Sánchez, has pledged a significant boost to renewable energies, particularly focusing on making Spain a global leader in decarbonization through renewable hydrogen. This commitment was highlighted during the 27th edition of the International Energy and Environment Fair GENERA 2024 in Madrid. As part of this new initiative, the government will soon approve grants for Spanish projects under the European Important Project of Common Interest (IPCEI) in the hydrogen industry.
A substantial fund of nearly €900 million will support ten major projects dedicated to the production, transportation, and development of renewable hydrogen technologies across various regions including Andalusia, Asturias, Aragón, Castilla-La Mancha, Murcia, and the Basque Country. This initiative is part of a broader €3.1 billion commitment from the Recovery Plan, aiming not just at the production and export of hydrogen but also at attracting the entire value chain to reindustrialize Spain.
The focus on renewable hydrogen, highlighted by the emerging electrolyzer manufacturing industry, the production of renewable hydrogen, its application in decarbonizing manufacturing sectors and transport, and its export to other European countries, is set to generate over 50,000 jobs in the last five years. By 2030, the sector is expected to employ over half a million people, contributing significantly to Spain’s ambition to achieve over 80% renewable electricity, as outlined in the National Integrated Energy and Climate Plan.
Under Sánchez’s leadership, Spain has seen a dramatic increase in renewable energy capacity, installing 27,000 MW in the five years following 2018, a 40% increase in energy generated from clean sources, and doubling the growth rate of these sources in the EU. Spain now ranks as the second country in Europe for installed renewable capacity and a global leader in the energy transition, being among the top countries worldwide for solar and wind power capacity.
Sánchez lauded the remarkable progress made towards achieving significant milestones in 2023, where over half of Spain’s electricity was generated from renewable sources, and 100% of the electricity demand was met with renewables for several hours. This achievement not only contributes to cleaner and cheaper energy but also significantly reduces CO2 emissions from the electric sector, equivalent to the emissions from over 20 million vehicles in a year.
Coinciding with the 40th anniversary of the Institute for Energy Diversification and Saving (IDAE), Sánchez thanked the organization for its contribution to energy knowledge, the Recovery Plan, and energy security policies in response to the crisis following Ukraine’s invasion. During his visit to GENERA 2024, he was accompanied by the Third Vice President and Minister for the Ecological Transition and Demographic Challenge, Teresa Ribera.
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