May 31, 2020

The wind sector asks for stability to guarantee the necessary investments until 2030


Siemens Gamesa CEO Markus Tacke stressed today the role that regulators, governments and companies must have in promoting energy transformation and considers that "financial incentives and clear policies are still lacking." Tacke has closed the presentation of a report on the socioeconomic effects of wind energy prepared by KPMG commissioned by Siemens Gamesa.

Thus, he warned that the barriers to a large-scale transition to renewable energy not only lie in the costs of technology, "but also in the long-term strategies and investments that make these ambitious plans come true».

To do this, "political stability and legal certainty are needed in the short term to attract the necessary investments" to meet the objectives of the energy transition, explained Siemens Gamesa financial director David Mesonero. The responsible energy partner of KPMG Spain, Alberto Martín, said that renewables «do not need subsidies, but visibility and stability».

The president of the PREPA (Wind Business Association), Rocío Sicre, has admitted that «It is very possible that some projects awarded at auctions will not start at the beginning of 2020 because the procedures are very long; but they will be done ».

David Mesonero has stated that «Size and location do matter» in this sector and foresees business movements that end up forming two or three large world groups. "The bigger the company, the better you finance and the better machines you have," he said.

Both Sicre and Martín have agreed that a new regulation is needed in the sector. The KPMG partner acknowledged that “wind power attracts both committed investors and others who do not. You have to avoid noise and bad image ».

Tacke stressed that climate change "is an emergency" and that it will be "cheaper and easier to reduce emissions", although "in many cases lack of political will».

The report presented today on the 50th floor of the KPMG headquarters in one of the four towers of the Paseo de La Castellana indicates that the wind power could supply 34% of the demand for electricity in Spain in 2030, reached this figure ten years before the global projection, and would employ about 30,000 people each year.

The report highlights the objectives set by Spain in its National Integrated Energy and Climate Plan (PNIEC), where in that horizon to ten years the renewable they will cover 74% of the country's electric mix.

In the presentation of the report, the president of KPMG, Hilario Albarracín, appreciated that in Spain, where it has been "Pioneers" in promoting renewable energy, Now we see how the challenge is "to integrate them into the system to achieve a higher penetration".

In the case of employment, the study estimates that the deployment of renewables in Spain would promote around 150,000 jobs (direct and indirect) per year, 30,000 in the wind sector alone.

The increase in the presence of renewables in Spain will come from the growth of investments in the sector, which would be the destination of the 43% of total funds for more than 236,000 million euros aimed at decarbonization until 2030, with 80% coming from the private sector, according to Carlos Solé, partner responsible for eonomy and regulation of KPMG Spain.

Also, if the sustainable scenario is met, energy avoid the emission of 10.75 million tons of CO2 in 2030, equivalent to the annual emissions of a Spanish city of one million inhabitants. This would mean savings of 537 million dollars (about 487 million euros).

In addition, by 2030 it would mean savings of up to 142 million cubic meters of water and a reduction in health-related costs by approximately 0.2% of Spanish GDP, as well as in the electricity bill.

. (wind tagsToTranslate) (t) ask for (t) stability

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