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27 May 2020
(El Diario Vasco - Fernando Segura) The Climate Change and Energy Transition Bill, approved by the Council of Ministers on Tuesday, gives a definitive boost to the renewable energy industry in Spain. Developing the industry will require an investment of €90,000 M over 10 years, an appetising business opportunity for Basque companies. José Ignacio Hormaeche, Director of the Basque Energy Cluster (ACE) maintains that the law is positive for the Basque capital goods industry in general, and for the energy sector in particular. The target of increasing renewable power over the coming years will involve huge growth in wind and solar power.
Hormaeche adds that the Basque industrial sector is well situated in both activities, competitive and broad-ranging, covering components, sub-systems and services. Furthermore, the attractiveness of these plants is enhanced by their being connected to the electric grid. This goes hand-in-hand with investment in facilities and the distribution network, which opens further business opportunities for the electricity sector, also well-represented in the Basque Country.
Hormaeche considers that the targets outlined by the State are ambitious, but realistic. “Most of the investment will come from private companies. Wind and solar are very competitive on the market, generating megawatts more cheaply than conventional sources.” He adds that the key lies in a flexible regulatory environment and responsive administrative procedures. “In the context of the current crisis, anybody intending to invest must be encouraged to take the step forward, and the way forward needs to be paved for them. Apart from all that, the technical aims and economic previsions are viable.”
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