McKinsey: Spain and Portugal can Lead Green EU Energy

Spain and Portugal’s solar energy is 20-25% more economical than in Central Europe, and their wind resources exceed the EU average by 5-10%. 

The Iberian Peninsula boasts well-established export infrastructure, including 18 deep-sea ports that handle around 20% of the EU's container traffic. 

It also accounts for the largest single share, approximately 30%, of the EU's liquefied natural gas import capacity.

Portugal is projected to contribute around 30% of the EU's lithium production capacity by 2030, and Iberia has significant potential in biomass supply, accounting for the third-largest feedstock for biobased gases and fuels in Europe.

Spain and Portugal’s green energy goals

Currently, Spain aims to build around 90 gigawatts of renewable power capacity and Portugal’s goal is to add about 25 gigawatts by 2030 compared to 2023.

Green hydrogen has huge potential to decarbonise a range of industries.

Spain and Portugal are aiming for 11 gigawatts and 5.5 gigawatts respectively in capacity for green hydrogen production by 2030.