PPA market to boost solar deployment in Spain and Portugal alongside auctions
Image: X-Elio.
While recent solar auctions in Spain and Portugal have made headlines with low prices and high levels of participation, the power purchase agreement market will be key to helping both countries reach their 2030 solar deployment targets, it was suggested during a panel discussion.
Participants in a discussion during this week’s
PV Tech publisher Solar Media, compared both countries’ solar auction mechanisms and how the results are impacting deployment.
Spain’s national energy and climate plan will see it target 39GW of installed PV capacity by 2030, while Portugal’s is aiming for 9GW. Only part of the capacity to be awarded through auctions, so the PPA market and other alternative markets “will be essential” to meeting those deployment goals, said Manuel Cabrerizo, partner at renewable energy financial advisory firm Voltiq.