The world has witnessed an increasing rate of green house gas
emissions which has impacted the earth in a disastrous way. New methods of
energy production and development are being developed in various countries. One
of the major shifts in energy production is the use of renewable sources of
energy generation. One of the primary renewable resources is the hydro energy
which is used to generate electricity by making water fall on large turbines
from a great height. Spain is extensively utilising its hydropower potential in order to ensure safer environment for its future
generation. Spain has numerous hydropower projects that are still under
construction and some that began operations long back. There are three broad
categories of hydropower projects and these include Small Hydro projects,
Medium Hydro projects and large hydro projects.
Many organisations are developing small hydropower projects due to
the cost effectiveness associated with them. According to the study, 'Hydropower
(Large, Small And Pumped Storage) In Spain, Market Outlook To 2030, Update 2018
- Capacity, Generation, Regulations And Company Profiles', some of the
major companies that are working in the hydropower energy generation industry
include Iberdrola, S.A., GrupoFerroatlantica, S.L., Gas Natural Fenosa Group,
E.ON Espana and AccionaEnergia, S.A. Small Hydropower plant projects are the
most cost effective method of fulfilling energy requirements of a less
developed region, which is why they attract attention in the developing
nations. They require relatively less capital investment and though, produce
lower amount of energy but enough to fulfil the needs of a remote area which
can ensure development in that region too. Out of the total hydropower
electricity generated in Spain, a significant portion was generated via small
hydropower projects which are unique considering that they generate lower
amount of electricity as compared to the other two.
Most number of hydropower plants is located in the northern region
where there is abundance of river basins coupled with hydropower generation
potential which makes it a favourable zone for setting up such projects. The
surge of small hydropower projects in Spain is mainly due to the governmental
rules and regulation which promoted the generation of energy via renewable
sources. The electricity sector law set a special regulatory and economic
framework for industries that generated power using renewable forms of energy.
The overall installed capacity of hydropower projects in Spain has been
increasing constantly over the past few years and the same if expected to be carried
for the upcoming years.
The competition scenario can be narrowed down to only few players
in the market who have the ability to make huge capital investments that too
after the returns begin to generate after a period nearly a decade. Many
companies that entered this segment could not survive the pressure and were
forced to exit, whereas those who continued eventually became the market
leaders. The future of this industry is expected to be bright especially due to
the strong support that the Spanish regulatory framework provides. The
established companies now face no threat from new entrants as they have become
behemoths in this sector holding onto their share. If new companies are able to
develop better techniques which are highly cost effective only then the big
giants can be put into trouble.
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Sales@kenresearch.com
+91-9015378249
