Abstract
Since 2019, when the wind farms derived from the installed capacity auctioned by the Spanish Ministry of Energy were installed, Spain is immersed in a new process of growth in the wind sector. In the previous wind boom, derived from the aggressive FIT system implemented by the Spanish central government, large companies were the ones dominating the market. The objective of this study is to determine, based on the calculation of concentration indexes, whether the large energy companies hold most of the wind power market share. For this purpose, a concentration study will be performed on a population sample of 646 companies, initially considering all the companies in the sector individually and then, subsequently, by groups of companies according to the corporate matrix. The result shows that more than 50% of the market share is held by the three main energy companies operating in Spain.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Abadie LM, Goicoechea N (2021) Old wind farm life extension vs. full repowering: a review of economic issues and a stochastic application for Spain. Energies 14(12):3678. https://doi.org/10.3390/en14123678
Álvarez-Díaz M, Fernández-González R, Caballero G (2017) Institutional change, specific investments and photovoltaic power plants: the empirical effects of the energy policy of “Solar farms” in spain. En State, Institutions and Democracy, pp 327–347. Springer
Armijo J, Philibert C (2020) Flexible production of green hydrogen and ammonia from variable solar and wind energy: case study of Chile and Argentina. Int J Hydrogen Energy 45(3):1541–1558. https://doi.org/10.1016/j.ijhydene.2019.11.028
Asociación Empresarial Eólica (2021a) Anuario Eólico 2021a. https://aeeolica.org/anuario-eolico-2021-toda-la-informacion-del-sector-en-el-ano-2020/
Asociación Empresarial Eólica. (2021b). La eólica en España. https://aeeolica.org/sobre-la-eolica/la-eolica-en-espana/
Bagheri M, Delbari SH, Pakzadmanesh M, Kennedy CA (2019) City-integrated renewable energy design for low-carbon and climate-resilient communities. Appl Energy 239:1212–1225. https://doi.org/10.1016/j.apenergy.2019.02.031
Bailera M, Lisbona P (2018) Energy storage in Spain: forecasting electricity excess and assessment of power-to-gas potential up to 2050. Energy 143:900–910. https://doi.org/10.1016/j.energy.2017.11.069
Ball R, Gerakos J, Linnainmaa JT, Nikolaev V (2016) Accruals, cash flows, and operating profitability in the cross section of stock returns. J Financ Econ 121(1):28–45. https://doi.org/10.1016/j.jfineco.2016.03.002
Bean P, Blazquez J, Nezamuddin N (2017) Assessing the cost of renewable energy policy options—a Spanish wind case study. Renew Energy 103:180–186. https://doi.org/10.1016/j.renene.2016.11.001
Best R, Burke PJ (2018) Adoption of solar and wind energy: the roles of carbon pricing and aggregate policy support. Energy Policy 118:404–417. https://doi.org/10.1016/j.enpol.2018.03.050
Blanco M, Ferasso M, Bares L (2021) Evaluation of the effects on regional production and employment in Spain of the renewable energy plan 2011–2020. Sustainability 13(6):3587. https://doi.org/10.3390/su13063587
Brey JJ (2021) Use of hydrogen as a seasonal energy storage system to manage renewable power deployment in Spain by 2030. Int J Hydrogen Energy 46(33):17447–17457. https://doi.org/10.1016/j.ijhydene.2020.04.089
Bureau Van Dijk Electronic Publishing Group (2021) Orbis | Company information across the globe | BvD. https://orbiseurope.bvdinfo.com/version-2021923/orbis4europe/Companies/Login?returnUrl=%2Fversion-2021923%2Forbis4europe%2FCompanies
Camprubí L (2019) Whose self-sufficiency? Energy dependency in Spain from 1939. Energy Policy 125:227–234. https://doi.org/10.1016/j.enpol.2018.10.058
Colmenar-Santos A, Linares-Mena A-R, Molina-Ibáñez E-L, Rosales-Asensio E, Borge-Diez D (2020) Technical challenges for the optimum penetration of grid-connected photovoltaic systems: Spain as a case study. Renew Energy 145:2296–2305. https://doi.org/10.1016/j.renene.2019.07.118
Comisión Nacional de los Mercados y la Competencia (CNMC) (2021) Energía. https://www.cnmc.es/consultas-publicas/energia/
Copena D, Pérez-Neira D, Simón X (2019) Local economic impact of wind energy development: analysis of the regulatory framework, taxation, and income for Galician municipalities. Sustainability 11(8):2403. https://doi.org/10.3390/su11082403
Copena D, Simón X (2018) Wind farms and payments to landowners: opportunities for rural development for the case of Galicia. Renew Sustain Energy Rev 95:38–47. https://doi.org/10.1016/j.rser.2018.06.043
Correia-da-Silva J, Soares I, Fernández R (2020) Impact of dynamic pricing on investment in renewables. Energy 202:117695. https://doi.org/10.1016/j.energy.2020.117695
Creutzig F, Goldschmidt JC, Lehmann P, Schmid E, von Blücher F, Breyer C, Fernandez B, Jakob M, Knopf B, Lohrey S, Susca T, Wiegandt K (2014) Catching two European birds with one renewable stone: Mitigating climate change and Eurozone crisis by an energy transition. Renew Sustain Energy Rev 38:1015–1028. https://doi.org/10.1016/j.rser.2014.07.028
Dai L, Sun S, Li T, Farkoush SG (2021) Probabilistic model for nondispatchable power resource integration with microgrid and participation in the power market. Energ Strat Rev 33:100611. https://doi.org/10.1016/j.esr.2020.100611
Duffield JS (2021) Laying the groundwork: early efforts to promote renewable power in Spain. En JS Duffield (ed) Making renewable electricity policy in Spain: the politics of power, pp 13–24. Springer International Publishing. https://doi.org/10.1007/978-3-030-75641-3_2
Đukan M, Kitzing L (2021) The impact of auctions on financing conditions and cost of capital for wind energy projects. Energy Policy 152:112197. https://doi.org/10.1016/j.enpol.2021.112197
El independiente (2019) Endesa y Naturgy ultiman un aluvión de nuevas renovables en España hasta fin de año. El Independiente. https://www.elindependiente.com/economia/2019/10/27/endesa-y-naturgy-ultiman-un-aluvion-de-nuevas-renovables-en-espana-hasta-fin-de-ano/
Espinosa VI, Peña-Ramos JA, Recuero-López F (2021) The political economy of rent-seeking: evidence from Spain’s support policies for renewable energy. Energies 14(14):4197. https://doi.org/10.3390/en14144197
Fernández-González R, Arce E, Garza-Gil D (2021) How political decisions affect the economy of a sector: the example of photovoltaic energy in Spain. Energy Rep 7:2940–2949. https://doi.org/10.1016/j.egyr.2021.05.021
Fernández-González R, Suárez-García A, Álvarez Feijoo MÁ, Arce E, Díez-Mediavilla M (2020) Spanish photovoltaic solar energy: institutional change, financial effects, and the business sector. Sustainability 12(5):1892. https://doi.org/10.3390/su12051892
Ferrer, J. de L. C., & Fernandez, E. P. (1999). La liberalizacion de los servicios públicos y el sector electrico modelos y analysis de la ley 54/1997. Marcial Pons.
Friebe CA, von Flotow P, Täube FA (2014) Exploring technology diffusion in emerging markets—the role of public policy for wind energy. Energy Policy 70:217–226. https://doi.org/10.1016/j.enpol.2014.03.016
Fuinhas JA, Marques AC (2012) Energy consumption and economic growth nexus in Portugal, Italy, Greece, Spain and Turkey: an ARDL bounds test approach (1965–2009). Energy Econ 34(2):511–517. https://doi.org/10.1016/j.eneco.2011.10.003
Garrués-Irurzun J, López-García S (2009) Red Eléctrica de España S.A.: Instrument of regulation and liberalization of the Spanish electricity market (1944–2004). Renew Sustain Energy Rev 13(8), 2061–2069. https://doi.org/10.1016/j.rser.2009.01.028
Grashof K (2021) Who put the hammer in the toolbox? Explaining the emergence of renewable energy auctions as a globally dominant policy instrument. Energy Res Soc Sci 73:101917. https://doi.org/10.1016/j.erss.2021.101917
Gürtler K, Postpischil R, Quitzow R (2019) The dismantling of renewable energy policies: the cases of Spain and the Czech Republic. Energy Policy 133:110881. https://doi.org/10.1016/j.enpol.2019.110881
Imran K, Kockar I (2014) A technical comparison of wholesale electricity markets in North America and Europe. Electric Power Syst Res 108:59–67. https://doi.org/10.1016/j.epsr.2013.10.016
Inês C, Guilherme PL, Esther M-G, Swantje G, Stephen H, Lars H (2020) Regulatory challenges and opportunities for collective renewable energy prosumers in the EU. Energy Policy 138:111212. https://doi.org/10.1016/j.enpol.2019.111212
Jacobson MZ, Delucchi MA, Bauer ZAF, Goodman SC, Chapman WE, Cameron MA, Bozonnat C, Chobadi L, Clonts HA, Enevoldsen P, Erwin JR, Fobi SN, Goldstrom OK, Hennessy EM, Liu J, Lo J, Meyer CB, Morris SB, Moy KR, … Yachanin AS (2017) 100% clean and renewable wind, water, and sunlight all-sector energy roadmaps for 139 countries of the world. Joule 1(1):108–121. https://doi.org/10.1016/j.joule.2017.07.005
López SM, Cebrián M (2021) The development of wind farm businesses and the central control of the smart grid in Spain: making a virtue of necessity. Energies 14(20):6582. https://doi.org/10.3390/en14206582
Malvaldi A, Weiss S, Infield D, Browell J, Leahy P, Foley AM (2017) A spatial and temporal correlation analysis of aggregate wind power in an ideally interconnected Europe. Wind Energy 20(8):1315–1329. https://doi.org/10.1002/we.2095
Marques AC, Fuinhas JA, Neves SA (2018) Ordinary and special regimes of electricity generation in Spain: how they interact with economic activity. Renew Sustain Energy Rev 81:1226–1240. https://doi.org/10.1016/j.rser.2017.09.006
Matti C, Consoli D (2015) The emergence of wind energy in Spain: a review of the policy mix. Routledge, En The Economics of Knowledge, Innovation and Systemic Technology Policy
Ministerio de Energía, Turismo y Agenda Digital (2017, April 8) Orden ETU/315/2017, de 6 de abril, por la que se regula el procedimiento de asignación del régimen retributivo específico en la convocatoria para nuevas instalaciones de producción de energía eléctrica a partir de fuentes de energía renovables, convocada al amparo del Real Decreto 359/2017, de 31 de marzo, y se aprueban sus parámetros retributivos. https://www.boe.es/eli/es/o/2017/04/06/etu315
Odam N, de Vries FP (2020) Innovation modelling and multi-factor learning in wind energy technology. Energy Econ 85:104594. https://doi.org/10.1016/j.eneco.2019.104594
Owusu PA, Asumadu-Sarkodie S (2016) A review of renewable energy sources, sustainability issues and climate change mitigation. Cogent Eng 3(1):1167990. https://doi.org/10.1080/23311916.2016.1167990
Puig-Samper Naranjo G, Bolonio D, Ortega MF, García-Martínez M-J (2021) Comparative life cycle assessment of conventional, electric and hybrid passenger vehicles in Spain. J Clean Prod 291:125883. https://doi.org/10.1016/j.jclepro.2021.125883
Red Eléctrica de España (2020a) REData—Aldia. https://www.ree.es/es/datos/aldia
Red Eléctrica de España (2020b) REData—Potencia instalada | Red Eléctrica de España. https://www.ree.es/es/datos/generacion/potencia-instalada
Red Eléctrica de España (2021) Gestor de la red y transportista. https://www.ree.es/es/actividades/gestor-de-la-red-y-transportista
Red Electrica Española (2021) Informe del Sistema Eléctrico Español 2020, p 100. https://www.ree.es/sites/default/files/publication/2021/06/downloadable/inf_sis_elec_ree_2020_0.pdf
Roldan-Fernandez J-M, Burgos-Payan M, Riquelme-Santos J-M, Trigo-Garcia A-L (2016) Renewables versus efficiency. A comparison for Spain. Energy Proc 106:14–23. https://doi.org/10.1016/j.egypro.2016.12.101
Schlott M, Kies A, Brown T, Schramm S, Greiner M (2018) The impact of climate change on a cost-optimal highly renewable European electricity network. Appl Energy 230:1645–1659. https://doi.org/10.1016/j.apenergy.2018.09.084
Shayeghi H, Sobhani B (2014) Integrated offering strategy for profit enhancement of distributed resources and demand response in microgrids considering system uncertainties. Energy Convers Manage 87:765–777. https://doi.org/10.1016/j.enconman.2014.07.068
Shrestha TK, Piya P, Karki R (2020) Operational adequacy planning: practices and challenges. IEEE Power Energy Society General Meeting (PESGM) 2020:1–5. https://doi.org/10.1109/PESGM41954.2020.9281872
Simón X, Copena D, Montero M (2019) Strong wind development with no community participation. The case of Galicia (1995–2009). Energy Policy 133:110930. https://doi.org/10.1016/j.enpol.2019.110930
Solaun K, Cerdá E (2020) Impacts of climate change on wind energy power—four wind farms in Spain. Renew Energy 145:1306–1316. https://doi.org/10.1016/j.renene.2019.06.129
Tolliver C, Keeley AR, Managi S (2020) Policy targets behind green bonds for renewable energy: do climate commitments matter? Technol Forecast Soc Chang 157:120051. https://doi.org/10.1016/j.techfore.2020.120051
Valero S, Aparicio J, Senabre C, Ortiz M, Sancho J, Gabaldon A (2010) Analysis of different testing parameters in Self-Organizing Maps for short-term load demand forecasting in Spain. Modern Electric Power Syst 2010:1–6
World Bank Group (2021) Global Wind Atlas. https://globalwindatlas.info
Ziegler L, Gonzalez E, Rubert T, Smolka U, Melero JJ (2018) Lifetime extension of onshore wind turbines: a review covering Germany, Spain, Denmark, and the UK. Renew Sustain Energy Rev 82:1261–1271. https://doi.org/10.1016/j.rser.2017.09.100
Acknowledgements
This research has been funded by the Consellería de Cultura, Educación e Ordenación Universitaria of the Xunta de Galicia in Spain through the predoctoral grant ED481A-2018/341, the postdoctoral grant ED481B2018/095 and the following grants: ED431C2018/48 and ED431E2018/07. In addition, this publication is part of the Spanish R&D&I project RTI2018-099225-B-100, funded by MCIN/ AEI/https://doi.org/10.13039/501100011033/ and FEDER “A way of doing Europe”.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2022 The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.
About this chapter
Cite this chapter
Fernández-González, R., Puime-Guillén, F., Pérez-Vas, R. (2022). The New Wind Energy Boom in Spain: Are Large Companies Once Again Dominating the Market?. In: Khan, S.A.R., Panait, M., Puime Guillen, F., Raimi, L. (eds) Energy Transition. Industrial Ecology. Springer, Singapore. https://doi.org/10.1007/978-981-19-3540-4_5
Download citation
DOI: https://doi.org/10.1007/978-981-19-3540-4_5
Published:
Publisher Name: Springer, Singapore
Print ISBN: 978-981-19-3539-8
Online ISBN: 978-981-19-3540-4
eBook Packages: Economics and FinanceEconomics and Finance (R0)