![]() ![]() But the country will have to convince investors that its legal framework is more stable this time than during the “solar garden” bubble that followed subsidy promises in 2007. ![]() Last year, Spain installed more new onshore wind than any other country in Europe.įar from being a drain on employment and economy, the Spanish government says its decarbonisation plan will increase the workforce by 1.6%. Spain is also shutting down 69% of its coal-fired power plants this year and next – a pace of decommissioning not seen anywhere else in the world. The bill would ban new coal, oil and gas extraction projects and end direct fossil fuel subsidies. In May, the cabinet approved a draft law on climate change, which outlined more ambitious goals than the EU at the time on renewables and energy efficiency. Renewable power, meanwhile, will rise from 20% of the energy mix to 97%.Īction is already under way. By 2050, the decarbonisation strategy envisages a 90% reduction in emissions, the reforestation of 20,000 hectares and the recovery of 50,000 hectares of wetlands. Over the coming three years, Spain has committed €27bn to green energy spending – a downpayment on the €750bn investment it forecasts will be needed to fund the move away from fossil fuels. Last week, the government was the latest to announce plans to go carbon neutral by 2050 and it is overseeing one of the fastest shifts away from coal the world has seen. Under the coalition of its socialist prime minister, Pedro Sánchez, Spain has picked up the pace from a jog to a run in its break from fossil fuels this year, and is now one of the countries leading the European pack. ![]() Spanish prime minister Pedro Sánchez is planning to shut 69% of the country’s coal-fired power stations by next year. ![]()
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