USA, Germany, China, United Kingdom, France, India, Australia and in eighth place Spain. These are the first positions in the preference ranking of international investors in the renewable energy sector, according to the latest edition of the Renewable Energy Country Attractiveness Index (Recai) report, which has been produced for 61 editions by the consulting firm EY.
Despite criticism from the energy sectors regarding regulatory instability and its negative impact for investors, the report notes that in 2022 Spain added 5.9 gigawatts (GW) of new renewable power. With them, 59.2% of the total installed power in the country already comes from renewable sources, which places it as number two in Europe, only surpassed by Germany.
The crisis that the dependence on Russian gas has generated in the German country has led to a very strong boost in renewables that has allowed Germany to even displace China from the second position in the world ranking that the Asian giant held until now.
Germany has also reached the top spot in the market for corporate power purchase agreements (known in the industry as PPAs, which allow companies to purchase power at stable prices). Spain follows him in second place in the world ranking. Despite the price instability that presided over the electricity market throughout 2022, according to the report, 31 PPAs were signed in Spain for a value of 3.2 GW of renewable capacity, which represents 40% of the total of 8 .4 GW signed throughout Europe and which was surpassed by Germany due to the deployment that the country has carried out in the last year in the development of offshore wind energy parks.
The report also finds that the outbreak of the war in Ukraine has placed the security of energy supply among the priorities of countries around the world, with a widespread commitment to encourage the domestic production of cheap and low-carbon energy.
