More than 552 GW of utility-scale solar and wind projects have been announced, or are already under development, across the Mediterranean.
The Mediterranean has impressive potential to transform itself into a clean energy powerhouse, with one EU country leading the way.
A new analysis, using data from the Global Integrated Power Tracker, shows that the region has an estimated 552 gigawatts (GW) of utility-scale solar and wind projects that have either been announced or that are actively under development.
This represents around $792 billion (approximately €682.79 billion) of investment.
It exceeds the US’s entire planned capacity across all generation types, which currently stands at 548.3GW, and gives the Mediterranean a lot to boast about ahead of the United Nations’ COP31 climate summit, which is being held in Antalya, Tükiye.
The Mediterranean’s solar and wind boom
Almost two-thirds of wind and solar projects in the pipeline along the Mediterranean (361.3GW) aim to be commercially operational by 2030.
If these targets are met, it would grow the region’s operating solar and wind fleet by a staggering 43 per cent, representing around one-third of its current power mix.
A new report from Global Energy Monitor found that while the amount of capacity under development is still not enough to meet regional clean energy targets, it shows that governments have rolled out “ambitious policies, programmes and strategies” in their energy transition.
Which country is leading the way?
Spain has rapidly established itself as a leader in Europe’s renewable transition, ranking first in prospective utility-scale solar (108.8GW) and third in wind (56.6GW).
The country, which generated 75 per cent of its electricity from clean sources last year, has managed to reduce the influence of expensive fossil generators on the electricity price by 75 per cent since 2019 thanks to its existing renewables capacity.
Its investment in wind and solar is already providing tangible benefits for consumers, saving the average household around €10 every month on their electricity bills.
“Spain has broken the ruinous link between power prices and volatile fossil fuels, something its European neighbours are desperate to do,” says Dr Chris Rosslowe, a senior analyst at energy think-tank Ember.
“Boosting grids and batteries will help Spain break free from fossil dependency for good.”
Dr Rosslowe warns that Spain risks “sliding back” into costly gas reliance amid post-blackout fears. However, Spain’s planned renewable projects show the country is still striving towards a clean energy future.
Egypt is also emerging as a leader in the North Africa subregion of the Mediterranean, with almost 100 GW of wind and solar projects in the pipeline.
“Industrial decarbonisation heavily influences this development,” the report says, “With 37.7GW of in-development renewable capacity tied directly to green hydrogen applications.”
This is followed by Greece, Italy, Morocco, France and the Western Sahara.
“Countries across the Mediterranean are not starting from scratch in the energy transition,” says Hailey Deres, a senior researcher at Global Energy Monitor.
“COP31 offers a chance to showcase the incredible progress that has been achieved so far and as well an opportunity to build on that groundwork.”
Deres adds that overcoming barriers such as Europe’s outdated energy grid will “ultimately determine” how much of planned renewable capacity actually gets built.
Source: www.euronews.com
