Spain’s solar projects threatened by supply glut

Spain

MADRID, October 4, 2024 – Solar projects planned in Spain are under threat as a supply glut has pushed prices to unviable lows, Bloomberg reported on Friday.

The report cited the UK’s Aurora Energy Research as saying new battery capacity may not be sufficient to offset the high volumes of solar power on the market.

As of end-2023, the country boasted a solar power capacity of around 256 GW, according to the Energy Institute.

The issue has been seen across Europe in recent months, as supply forced wholesale prices below zero, Bloomberg reported.

Spain’s government targets the addition of 12.5 GW of battery and thermo-solar storage by 2030.

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