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Speculators’ scare in renewables

Speculators’ scare in renewables: 20 GW have given up the access point in September

RDL 23/2020 of 24 June gave permit holders of renewable energy plants the option of renouncing their permits within three months of the entry into force of the regulation (24 June), and the financial guarantees presented were returned.

Faced with the impossibility of meeting the new requirements in the pipeline for the plants to be developed, many speculators who were taking over a large part of the access points to the network have been scared off.

According to Red Eléctrica’s access and connection data as of 30 September, a total of 19.8 GW of power has been withdrawn from its access points.

GW acumulados

According to these data, the vast majority of the discards have occurred in photovoltaic solar energy.

On 31 August, the access data were as follows:  It already have been granted access to no less than 130 GW. Of this, 30.3 GW were wind power and 99.7 GW were photovoltaic. As of 30 September, this circumstance has changed and now only 121.2 GW are granted access, of which 30.7 GW are wind, i.e. 400 MW more than the previous month and 90.5 GW are PV, i.e. 9.2 GW less.

But to this must be added another almost 10 GW which have been given permission or have been refused. The data for permits with the management in progress have gone from 60 GW to 50.2 GW, a drop that has mostly been in photovoltaics.

But in the case of rejected access requests, instead of increasing, they have also fallen, a sign that even those who had not obtained the permit have decided to back out and request the return of the guarantees.

In total it is 20 GW less, but there have been 200 MW of wind power connected to the system during the month, according to data provided by the system operator, hence 19.8 GW.

According to REE, these data are not the official data on the withdrawal of developers from carrying out their projects. The official data on the return of the guarantees is being recorded by the Ministry of Ecological Transition and Demographic Challenge, and according to sources in the department headed by Teresa Ribera, they are still being recorded, even though three weeks have passed since the deadline (25 September).

Therefore, these 20 GW of renewables that speculators have declined to carry out are only a part of the total withdrawals. Market sources tell to el Periodico de la Energia that they are probably 20% of the total so there could be another 30 GW more that have requested the return of the guarantees, but for that we have to wait for the Ministry to confirm the data.


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