Europe / Caspian / CIS
Country profile: Spain
| Location: | Southwestern Europe, bordering the Bay of Biscay, Mediterranean Sea, North Atlantic Ocean, and Pyrenees Mountains, southwest of France |
| Climate: | temperate; clear, hot summers in interior, more moderate and cloudy along coast; cloudy, cold winters in interior, partly cloudy and cool along coast |
| Terrain: | large, flat to dissected plateau surrounded by rugged hills; Pyrenees in north |
| Size: | 504782 sq. km total (Land area: 499542 sq. km Water area: 5240 sq.km) |
| Population: | 40,491,051 (July 2008 est.) |
| Languages: | Castilian Spanish (official) 74%, Catalan 17%, Galician 7%, Basque 2%, are official regionally |
| Government: | parliamentary monarchy |
| Capital city: | Madrid |
| Legal system: | civil law system, with regional applications; accepts compulsory ICJ jurisdiction with reservations |
| Currency: | euro (EUR) |
| Licensing: |
Country profile
Both Spain and Portugal have been members of the European Union (EU) since 1986. EU membership has led to an increased standard of living and economic growth in the Iberian Peninsula and billions of dollars worth of EU structural funds flowing into the two countries. Nevertheless, both countries continue to face economic challenges. Spain's unemployment rate remains stubbornly high, while Portugal has repeatedly exceeded the EU's limits on budget deficits. Economic growth spurred by EU membership has led to increases in energy consumption.
For example, Spain's energy demand has increased over 100 percent since the mid-1970s. The Iberian Peninsula has limited energy resources, so both Spain and Portugal must depend upon imports for the bulk of their energy needs. Attempts to develop domestic energy sources, though, have focused on hydropower and renewables. Both countries have also sought greater integration of the Iberian energy sector through policy coordination and infrastructure projects. The two announced in 2001 that they would create a single Iberian electricity market without limits on transnational ownership or market participation. However, repeated delays have pushed implementation of this market, called Mibel, until October 2007.
Energy production and consumption
| Oil | Gas | |
| Production: | 29,350 bbl/day (2005 est.) | 151 million cu m (2005 est.) |
| Consumption: | 1 million bbl/day (2005 est.) | 30 billion cu m (2005 est.) |
| Exports: | 175,200 bbl/day (2005 est.) | |
| Imports: | 1 bbl/day (2005 est.) | 31 billion cu m (2005 est.) |
| Reserves: | 157 million bbl (1 January 2006 est.) | 2 billion cu m (1 January 2006 est.) |
| Major fields: |
Spain - recent news
| 10 Jun 25 |
Spain: Vestas receives 46 MW repowering order in Spain Vestas has announced a 46 MW repowering order in Spain as part of its Q2 order intake. Turbine delivery is expected by Q4 2025 and commissioning is planned for Q2 2026. |
| 04 Jun 25 |
Spain: Greenvolt Group sells wind and solar portfolio in Spain for €195 Million Greenvolt Group has agreed to sell a 231 MW solar and wind portfolio located in Spain through its partnership with Green Mind Ventures to Transiziona, a company owned by White Summit Capital. |
| 27 May 25 |
Spain/Italy: Prospex Energy announces final results for Y/E 31 December 2024 Prospex Energy has announced its audited Final Results for the year ended 31 December 2024. 2024 was a year in which the Company made significant progress towards the development of its stated strategy - to become a mid-tier independent European energy producing group. Prospex reports a significant increase in net asset value by more than £4 million, underpinned by its growing portfolio of high-quality energy investments. |
| 22 May 25 |
Renewables in Spain: TotalEnergies inaugurates its largest solar field in Europe TotalEnergies inaugurates its largest solar power plant cluster in Europe, near Sevilla in Spain. It consists of five solar projects with a total installed capacity of 263 MW. The solar field is TotalEnergies’ largest in Europe. |
| 13 May 25 |
Spain: Zelestra secures €146.6 million in green financing to construct a 237MWdc solar PV portfolio in Spain Zelestra, a global, multi-technology, customer-focused renewable energy company, has successfully reached financial close for a portfolio financing including six solar PV projects in Spain that form the Belinchón and Brazatortas clusters, totalling 237 MWdc. |
Spain - more news
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