Investment

Interview with José María González Moya, General Manager of APPA Renovables

Discover how the Iberian Peninsula is developing a responsible investment circuit and participating in the energy transition in Spain.

Did you know that the Iberian Peninsula represents a tremendous opportunity to develop the responsible investment circuit through crowdfunding? This promising solution, which bypasses traditional banking channels, allows you to direct your savings towards concrete and sustainable citizen initiatives. Through an interview with José María González Moya, Managing Director of APPA Renovables, let's explore the opportunities and challenges of the Spanish market!

Can you briefly introduce APPA Renovables? What is your mission?

APPA Renovables is the Association of Renewable Energy Companies, the oldest organization in the sector in Spain. Since 1987, we have represented nearly 500 companies working in all renewable technologies: solar photovoltaic, wind, biomass, biogas, hydropower, marine energy, self-consumption, and biofuels.

In short, our mission is to develop renewable energy in Spain. More specifically, we seek to promote a sustainable, efficient, safe, and competitive energy model, based primarily on renewable sources, thereby reducing Spain's energy dependence on fossil fuel imports. We advocate for a stable and predictable regulatory framework that allows renewable energy companies to develop all clean technologies in a balanced way and progressively integrate them into all energy uses: electricity, heat, and transport. Which renewable energy sectors currently stand out in Spain? In Spain, renewable electricity production is based primarily on three pillars: wind, solar photovoltaic, and hydropower. In addition, bioenergy (biomass and biofuels) and, in the future, biogas, also play a significant role. Over the past six years, Spain has experienced strong growth in solar photovoltaics, particularly on a large scale, but also in self-consumption, which has exploded since 2018, peaking in 2022. Wind power remains the main source of electricity (renewable or not), and hydropower offers significant regulation capacity, which could grow even further in the medium term with pumped storage. Furthermore, we are seeing increasing interest in technologies such as biogas and biomethane, which are the focus of our most recent section and are fundamental for sectors that are difficult to electrify. The strategic development of renewable hydrogen is also noteworthy. Finally, renewable thermal energies, such as biomass, are key to decarbonizing industry and heating/cooling.

Spain is often seen as a potential leader in renewable energy in Southern Europe: is this a reality today?

We are, but with some nuances and still a long way to go!In 2023, we exceeded 50% renewable electricity production for the first time, becoming the first major European economy to achieve this without being heavily dependent on hydropower. In 2024, we nearly reached 57%, a figure that will likely be surpassed again in 2025.

Spain is rich in natural resources—sun, wind, water, biomass—and we have a strong national industry in many of these technologies.

But major challenges remain: insufficient electrification, the slow integration of renewables in sectors like transport, an increased need for flexibility and storage, and imbalances between technologies, or between supply and demand, that disrupt wholesale markets. We have the potential to become an undisputed leader, but this requires courageous and strategic decisions. Is the National Integrated Energy-Climate Plan (PNIEC) up to Spain's climate ambitions? The PNIEC—particularly its update adopted in 2024—sets ambitious targets, which is positive. It raises the targets for renewables and decarbonization, strengthens the role of energy efficiency, and integrates strategies for storage and demand management. But objectives alone are not enough. They must be accompanied by concrete measures, investments, simplified administrative procedures, and adequate network planning. The National Energy and Climate Plan (PNIEC) provides a clear roadmap, but the necessary resources must be allocated for its implementation. Without this, we will remain at the stage of mere intention. Currently, two major challenges exist: the electrification of fossil fuel uses (heat pumps, electric vehicles, etc.), which is not progressing quickly enough; and the integration of renewables into non-electrical uses (biogas, biofuels, biomass, etc.). The PNIEC must be accompanied by corrective measures with each update. Otherwise, we will simply pile on objectives without analyzing what is hindering or missing from our energy transition. It must be respected in its entirety, that is to say, both on the supply side (where we are making good progress) and on the demand side (where we are not managing to sufficiently transform energy uses).

What role can local authorities play in this transition?

Local authorities are key players. They know the territory better than anyone, can facilitate the development of large-scale projects, and also promote self-consumption, energy communities, energy efficiency, and renewable heating networks. They must lead by example with their own buildings and vehicle fleets and can act as catalysts for investment in renewable energy, particularly in rural areas. The energy transition has a clear local dimension, and its success will depend heavily on the commitment and active participation of municipalities and regions. In our annual report on photovoltaic self-consumption and the macroeconomic study of renewable energy in Spain, we analyze the data by region and find significant differences. At their level, local authorities can truly make a difference. They can facilitate permits for large installations, support communication around projects, and offer local tax exemptions for self-consumption, heat pumps, or electric vehicles—all tools they can use to accelerate the transition. What is your view on new financing models, such as crowdfunding? Crowdfunding and other participatory models are very useful tools for democratizing energy. They allow citizens and small businesses to invest in renewable energy, generate returns, and, at the same time, feel like they are part of the transition. They promote the social acceptability of projects and bring energy closer to the local community. It is important that regulations facilitate their development, guarantee the security of small and large investors, and support mechanisms such as energy communities or shared self-consumption. For businesses, these are also very attractive models: not only as a source of financing, but also as a way to involve citizens and SMEs – often local ones – in projects developed in their area, thereby strengthening their commitment. What do you see as the priorities for accelerating Spain's energy transition over the next 5 years? Over the next 5 years, Spain must focus its efforts on electrifying the economy, particularly in key sectors such as mobility and industry, which are still too dependent on fossil fuels. This process will help reduce emissions and improve the country's energy efficiency. In parallel, it is essential to develop energy storage, primarily through pumped storage, as well as demand flexibility – two indispensable elements for integrating more renewable energy into the electricity system while ensuring its stability. Another priority is improving planning and investment in grid infrastructure. Electricity grids must be able to manage a more distributed and variable energy model, facilitating the connection of new renewable energy production and self-consumption. It is therefore urgent to accelerate administrative procedures and grid access, which currently constitute a bottleneck for many projects!

For sectors where electrification is not possible or profitable, renewable gases – such as biogas, biomethane, and green hydrogen – will play a fundamental role. Spain has significant potential in this area, which must be fully exploited. It is also essential to train the professionals of tomorrow, support research and technological development, and strengthen the national clean energy industry to ensure sustainable and competitive leadership. Finally, the energy transition must be fair and inclusive. We must ensure that no region or citizen is left behind – whether by purchasing green energy or by directly engaging through self-consumption, home electrification, or the use of renewable thermal energy. At APPA Renovables, we work every day toward this goal, convinced that a robust and equitable energy transition is the best investment our country can make to guarantee a prosperous, resilient, and sustainable future.

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