MNI China Daily Summary: Tuesday, November 12

MNI: GERMANY OCTOBER FINAL HICP +0.4% M/M

MNI: PBOC Net Injects CNY107.2 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1927 Tues; +1.32% Y/Y

CHINA PBOC CONDUCTS CNY125.5 BLN VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1927 TUES VS 7.1786

MNI: GERMAN OCT CPI +2 % Y/Y

MNI: UK OCT CLAIMANT CHG +26700

EZ/UK Bond Supply Calendar: NE, UK, DE Auction on Tuesday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

RENEWABLES: Spanish Lobby Group Warns Renewable Growth Outpaces Demand Growth

RENEWABLES
BulletPower BulletsEnergy BulletsCommodities

The Spanish renewable lobby group APPA has warned that adding renewable capacity without a significant uptick in power demand is causing a mismatch and more negative priced hours, which will hinder future investment, cited by Reuters. 

  • "We continue to add renewables capacity without a proportional increase in power demand," APPA President Santiago Gomez.
  • "By the end of 2024, we expect about 10% of hours at zero or even negative power prices," Gomez added.
  • Gomez added that the lack of growth in power demand, growing renewable capacity and an increasing number of negative priced hours is jeopardising investment in renewable projects in the future.
  • This is mirroring outcomes from a study by Aurora Energy earlier this month, stating that the oversupply of solar PV plants in Spain has pushed down prices, which in turn may hinder investments in new projects.
  • Spain has added 725MW of new solar PV capacity in September with total capacity reaching 28.61GW as of 1 October, data from Red Electrica showed.
163 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The Spanish renewable lobby group APPA has warned that adding renewable capacity without a significant uptick in power demand is causing a mismatch and more negative priced hours, which will hinder future investment, cited by Reuters. 

  • "We continue to add renewables capacity without a proportional increase in power demand," APPA President Santiago Gomez.
  • "By the end of 2024, we expect about 10% of hours at zero or even negative power prices," Gomez added.
  • Gomez added that the lack of growth in power demand, growing renewable capacity and an increasing number of negative priced hours is jeopardising investment in renewable projects in the future.
  • This is mirroring outcomes from a study by Aurora Energy earlier this month, stating that the oversupply of solar PV plants in Spain has pushed down prices, which in turn may hinder investments in new projects.
  • Spain has added 725MW of new solar PV capacity in September with total capacity reaching 28.61GW as of 1 October, data from Red Electrica showed.