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Spain on track to complete nuclear power phase-out by 2035 via Power Technology

By GlobalDataTechnology

GlobalData’s latest report, “Spain Power Market Outlook to 2030, Update 2021 – Market Trends, Regulations, and Competitive Landscape,” discusses the power market structure of Spain and provides historical and forecast numbers for capacity, generation, and consumption up to 2030. Detailed analysis of the country’s power market regulatory structure, competitive landscape and a list of major power plants are provided. The report also gives a snapshot of the power sector in the country on broad parameters of macroeconomics, supply security, generation infrastructure, transmission and distribution infrastructure, electricity import and export scenario, degree of competition, regulatory scenario and future potential. An analysis of the deals in the country’s power sector is also included in the report.

Spain is on track to complete the nuclear power phase-out by 2035. The nuclear power capacity in the country is expected to decline sharply from 7.1GW in 2020 to 3GW in 2030. As of August 2021, the country had seven operational nuclear power reactors, the majority of which are owned and managed by Iberdrola and Endesa. Under its National Energy and Climate Plan 2021-2030, the Spanish Government is planning to decommission nuclear power capacity during the 2027 to 2035 period. By 2030, nuclear power capacity is expected to decline to 3GW before being phased out altogether by 2035.

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With respect to the power sector, electricity consumption in the country declined by 5.5% in 2020 as compared to 2019. Electricity demand from industrial and commercial sectors declined significantly due to national lockdowns. The manufacturing of renewable power equipment also took a hit in the country due to the lockdowns. In March 2020, Vestas, a major wind turbine manufacturer, stopped almost all manufacturing at its two factories in Spain. Siemens Gamesa, another major wind equipment manufacturer, closed its blade manufacturing plant and another facility in Spain along with temporarily halting all its activities at production plants and wind farms in March 2020. In April 2020, Nordex, a Germany-based wind turbine manufacturer, suspended production activities in Spain due to the rapid spread of the Covid-19 pandemic and the resulting lockdowns. The Spanish Government passed the Royal Decree-law 23/2020 of 23rd June 2020 as a measure towards revitalising the economy and approving energy-related measures. The regulation came into effect on 25th June 2020 and provides measures to ramp up the power sector post the impact of Covid-19 on the economy, especially investments in renewables, energy efficiency and new generation processes.

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