Wind
energy promotes the usage of clean form of energy couples with an infinite
supply ensuring that the energy production does not stop. For the companies,
organizations and governments that concerned with providing a safer environment
for future generation by ensuring energy production from renewable sources
rather than non-renewable sources, and then wind energy could be the way to go
for. In Europe, countries like Denmark and Netherlands have developed huge wind
energy farms and recently Spain was the one country that has sanctioned the
setting up of huge wind energy farms. Currently it is ranked among the top 5
countries with the largest wind power generation capacity. Not only has this,
but the growth in the installed capacity been huge in the recent year which is
expected to be carried to the future years. The installed capacity has
witnessed a sharp increase in the recent years. Not only this but the wind
power companies that manufacture the turbines and storage units are also the
market leaders in this segment which has greatly stimulated the wind power
market in Spain.
Due
to the growth that has been given to this sector, many companies have also
entered this market space developing technologies that are related to
electricity generation, storage, capacity, wind data logging and components.
According to the study, ‘Wind
Power in Spain, Market Outlook to 2030, Update 2018 - Capacity, Generation, Investment
Trends, Regulations and Company Profiles’, some of the major companies
that are currently functioning in the Spanish wind power market includes RWE
AG, Renovalia Energy, S.A., Iberdrola, S.A., FersaEnergiasRenovables, S.A.,
Eolica Navarra SL, EoliaRenovables de Inversiones, SCR, S.A., Enerfin S.A.,
Enel Green Power S.P.A., Endesa, S.A., EDP Renovaveis, S.A., Actividades de
Construccion y Servicios S.A. and AccionaEnergia, S.A.
All
these companies are deploying new technologies and that too at cost efficient
rates which have resulted in their market leadership. The reason for the shift
to energy production via renewable form of energy is quite different for Spain
as compared to other regions. Most countries try these resources due to
environmental degradation however, Spain due to its rising economic growth
ultimately led to a shortage of energy production which had to be met via other
forms of energy generation and wind energy was the most feasible one.
The
objective of the Spanish government is twofold. First being the reduction in
dependence on imported oil. Studies suggest that Spain due to its geographical
position and lack of natural resources is one the most dependent on imported
oil. In order to reduce this dependence, government aims to satisfy the needs
by promoting wind energy. The second objective is to reduce the greenhouse gas
emissions that are closely associated with usage of non-renewable forms of
energy.
The
completion landscape in this industry is not very intense with many start-ups
and other types of companies setting up their production units in Spain. They
are aggressively investing huge amount in new technologies to ensure cheaper
and more efficient energy production. The future of this industry is expected
to be bright which is set to be taken to the future years as well.
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Ken
Research
Ankur
Gupta, Head Marketing & Communications
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