Spain Renewable Power Capacity to Reach 218.1GW in 2035, Forecasts GlobalData

­Spain is reinforcing its clean energy transition with ambitious targets for solar, wind, and hydrogen, backed by strong EU alignment and national reforms. The country aims to achieve 81% renewable electricity generation by 2030 and carbon neutrality by 2050 under its updated National Energy and Climate Plan (PNIEC). Against this backdrop, Spain’s cumulative renewable capacity is projected to reach 218.1GW in 2035, with a compound annual growth rate (CAGR) of 9.1% during 2024–35, according to GlobalData, a leading data and analytics company.

GlobalData’s report, “Spain Power Market Trends and Analysis by Capacity, Generation, Transmission, Distribution, Regulations, Key Players and Forecast to 2035,” reveals that Spain’s renewable generation is expected to increase from 131.2TWh in 2024 to 313.6TWh in 2035, at a CAGR of 8.2%. Solar PV will remain the driving force, with capacity surging from 21.5GW in 2021 to 152.8GW by 2035, while onshore wind is forecast to rise from 28.7GW in 2021 to 56.3GW in 2035.

Mohammed Ziauddin, Power Analyst at GlobalData, comments: “Spain’s updated PNIEC and policies like the Renewable Energy Economic Regime (REER) and the Climate Change and Energy Transition Law are ensuring strong investor confidence. The competitive auction framework under REER and distributed generation incentives like the Self-Consumption Law are accelerating both utility-scale and rooftop solar deployment. Offshore wind and green hydrogen are also emerging as new growth pillars, supported by EU and national funding.”

Spain’s clean energy strategy is reinforced by its limited reliance on Russian gas and diversified LNG imports, while new interconnections with France and Portugal, including the Bay of Biscay and Trans-Pyrenean projects, will enhance supply security and grid flexibility. However, challenges remain around permitting delays, curtailments due to grid constraints, and low cross-border interconnection levels that restrict efficient market integration.

Zia concludes: “Spain’s rapid solar PV expansion, strong wind pipeline, and growing green hydrogen sector are setting the stage for long-term decarbonization. With grid modernization and cross-border upgrades, Spain is on track to achieve its 2030 and 2050 targets.”