Monday, February 6, 2023

Flood of Spanish projects to conquer the energy of the United States

The vast American lands are once again the object of the Spaniards. With the accumulated experience in the development of renewable energy in Spain, our country’s major energy companies have been planning and implementing their expansion into new markets for years. American has become one of the essentials in its business strategy, which has already been luck Investment of over $70,000 million,

Well-positioned Spanish engineering aspires to have a share of the cake as the new global energy paradigm sets its eyes Autonomy of supply and production through renewable sourcesThus it ceased to depend on political blackmail of those who until recently were regular suppliers such as Russia or Algeria.

With growing distrust towards Asia and the Middle East, and Africa struggling to ensure political and regulatory stability, America and especially the United States come to the fore in trade relationsless regulatory imposition and also favors the new position adopted by the Biden administration, very open-minded and Less demanding than in Brussels about the environmental impact of these investments,

Land of Opportunities for Iberdrola

If there’s a Spanish company that stands out in this American adventure, it’s it iberdrola, Company directed by Ignacio Sánchez Galán, after becoming the third renewable energy operator in the self-proclaimed “land of opportunities” Will allocate 65% of investments in the network by 2025 to projects in the United States, with a value close to 17,500 million. This data includes 11,000 million to complete the integration of PNM Resources, the New Mexico energy holding that Iberdrola intends to control by 2023.

After listing the US as a “key expansion market for the next three years”, US to invest $4,400 million more in renewable energy, 26% of the group’s total, with an eye on wind and solar power. The first has become a real objective after the potential of offshore wind has been verified. After taking over operations of the Vineyard Wind 1 megaproject, its new strategic plan envisages new investments in North American seafloor, 50 MW in battery storage and 600 million for green hydrogen.

Repsol moves into ‘upstream’ and opens for renewal

Another Spanish company that has been successful in its American adventure repsol, It agreed in September to include EIG as a partner for the upstream business, after investing in oil and gas exploration and production projects in Pennsylvania, the Gulf of Mexico, Texas or Alaska. In this way, EIG will acquire 25% of the business for 4,800 million euros, raising the valuation of the Spanish energy business to 19,000 million and reserving a possible IPO from 2026.

But in a world that is turning to renewable energy, the Josu John Imaz-led company was not going to be left behind, and In April it started producing green electricity with its first photovoltaic solar park, which when completed will be 125 MW, to be topped with another 20 MW in battery storage. The energy company also announced its intention to invest in a 600 MW project in Texas, which would become the group’s largest solar plant.

Enel launches into electric mobility

Enel Group, parent company of the Spanish energy company endesa, has also announced investments for its North American subsidiary, starting with Texas, where it has 4 GW of renewable projects already underway. The group’s new strategic plan includes a Close to $5,000 million investment in the United States That will allow for the development of 5 GW of new renewable capacity and storage over the next three years.

In addition, it announced its intention to build one of the largest photovoltaic panel plants in the United States, which will initially produce 3 GW worth of high-performance bifacial modules and cells per year, expanding to 6 GW in the future. Will increase till This is accomplished with the opening of a new business line dedicated to electric mobility, which will allow it to install 475,000 charging points for vehicles before 2025.

Integrated Projects and New Players

In addition to those mentioned, other large Spanish firms have also consolidated their plans in the US. This is the case, for example, of power energyWhich will locate its largest photovoltaic plant in the world in Texas and continue to add three others, including its first hybrid wind-solar park, to more than double its installed renewable capacity to 2.6 GW by the end of 2023.

The plans of the Entrecanales family means a $1,300 million investment Which will be added to the ten wind farms that already generate 1 GW of wind capacity and one solar thermal power plant in Nevada. Once the four new solar parks are completed, Acciona Energia will produce more than 2 GW of renewable energy.

arriving in may this year Nature For the country, which is inaugurating its portfolio of projects in the United States with a 300 MW photovoltaic plant in Texas, for which it will allocate 264 million euros. This is part of a portfolio of 25 projects worth 3.5 GW that it acquired last year for its exclusive development. Total energy investments exceed 1,000 million euros to reach an operational capacity of 500 MW in 2023 and 1,200 MW in 2025.

Other large Spanish players also have significant projects already in operation. we talk about abengoa, which this year completed construction of a 206 MW solar plant in California; either Anagaswhich acquired 30% of Telgrass, a gas and oil pipeline manager for which future growth plans are planned.

Spain is already, and will continue to be, one of the major players on the energy scene in the United States, both with new acquisitions and with its own projects that contribute to the energy security of the EU’s new strategic partner and that relies on oil. Facilitating the green transition of a highly dependent economy.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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