Our subsidiary CVE España: projects with strong local acceptance
Spain is a market with strong solar potential, particularly due to its abundant sunshine. The country is committed to increasing the share of renewable energies in Spanish electricity production to 74% by 2030. In line with its strategy of producing decentralized renewable energies and marketing them through short distribution channels, CVE set up operations in Spain in 2023.
CVE’s positioning in the Spanish market
CVE España stands out in the Spanish market for its grid-connected solar projects, which are highly locally accepted. These are projects of less than 5 MW that meet the needs of industrial consumers. Compared with utility-scale projects, these projects of around 5 MW are easier to implement in Spain, thanks to greater local acceptability, favorable regulatory changes (particularly regarding environmental authorizations) and simplified connection procedures.
CVE is also interested in the self-consumption market. Support policies such as the Renewable Energy Economic Regime (REER) and the abolition of “solar taxes” are encouraging self-consumption installations.
CVE España also uses project acquisition strategies to maintain its deployment while awaiting the connection of its greenfield portfolio scheduled for 2027.
“The Spanish solar market stands out for its innovative features in energy valorization, with the potential to develop models combining PPAs and market sales. The strategic PPA segment is mature and dynamic, fueled by favorable market and financing conditions.
CVE’s expertise in PPAs contracts enables us to provide effective financing solutions to accelerate the construction of solar projects in Spain.”
Jonathan Jay, Country Manager, CVE España
Our expertise in energy recovery
As of 2018, CVE has created an Energy department that brings together specialists in energy markets (buying – selling energy). Working closely with the innovation and marketing teams and the country subsidiaries, including Spain, this activity is developing new energy valuation models based on PPAs, guarantees of origin, capacity services, etc.
CVE España in figures
5
persons
23 MW
assets in operation and under construction by 30/06/2024
200 MW
secured pipeline by 30/06/2024
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10 September 2024
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