Eleven key points on the Auction January 2021

On 12 December 2020, the State Secretariat for Energy of Spain published a resolution calling the first auction for the procurement of renewable energy (the Resolution).

The Resolution is the final step in completing the new Economic Regime for Renewable Energy (the NERE) regulatory package. It is designed for the next 5 years, and includes an additional 20 GW of power. The NERE also consists of the following regulations: (i) Royal Decree-Law 23/2020 of 23 June 2020, which approves the regulation of energy and other areas for economic recovery; (ii) Royal Decree 960/2020 of 3 November 2020, regulating the economic regime for renewable energy for electricity production facilities; and (iii) Order TED/1161/2020 of 4 December 2020, regulating the first auction mechanism for granting the procurement of renewable energy and establishing the indicative timeline for the period of 2020-2025 (the Order).