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Spain could have 63 GW of wind and photovoltaic installed in 2024

The installed wind and solar power in Spain has grown by 62% since 2018, reaching 49,900 megawatts (MW) in 2022, according to the analysis of the Informa DBK Sector Observatory. The growth between 2021 and 2022 was 10.7%, but the accumulated power grew by 21.7% compared to 2021 and almost multiplied by four since 2018 due to the commissioning of numerous photovoltaic solar energy installations. In addition, the volume sold of wind and solar electricity reached 92,171 gigawatt-hours (GWh), 9% more than the previous year. This figure represented 33% of the total production of electrical energy, almost 10 points more than in 2018. The wind energy sold amounted to 59,945 GWh (+0.5% compared to 2021), maintaining its position as the main renewable technology, ahead of photovoltaic solar energy, which with 28,101 GWh accounted for a growth of 39.2%. For its part, the solar thermal volume reached 4,125 GWh.

DBK Sector Observatory indicates that in a context of notable price increases, the value of the wind and solar energy market rose in 2022 to 17,837 million euros, having experienced an increase of 33.1%, according to Europa Press. Wind energy continued to be the main income generator, with 10,077 million euros, followed by photovoltaic solar energy with 6,223 million and solar thermoelectric energy, with 1,537 million.

Informa's forecasts suggest that in the 2023-2024 biennium around 4,500 new megawatts (MW) of wind energy will be installed, so that the accumulated power in Spain will be around 34,500 megawatts (MW) in operation at the end of the period. At the same time, it points out that, by the end of 2024, 29,000 megawatts (MW) of installed photovoltaic solar energy could be reached, which continues to present "marked dynamism, supported by the promotion of public administrations." Finally, Informa indicates that the wind and solar energy market continues to show a growing concentration of supply. The five main operators absorbed 43% of the total installed power in 2022, while the joint share of the top ten was 53%.

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