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Cleantech: A Growing Market in Spain

Cleantech is the future, and Spain knows it.

Cleantech, also known as Greentech, originally referred only to sustainable technologies, but has since expanded to include the investment, business, and technology sectors which work to promote the development of environmentally-friendly technologies, goods, and services.

Cleantech and renewable energy in Spain

When one thinks of “green” countries, the Nordic region generally comes to mind as the leaders of the field. It may come as a surprise, therefore, to learn that Spain has been ranked the 6th most environmentally-friendly nation in the world.

In fact, in November of last year, the Spanish government unveiled a draft law setting ambitious targets regarding its energy supply: 70% drawn from renewable energies by 2030, and 100% in 2050.  

And the government is putting its money where its mouth is: a minimum of 20% of its national budget will be dedicated to fighting climate change.

What does this mean for green companies in Spain?

If the INCENSe awards of 2016 are any indication, it seems that cleantech in Spain is gaining momentum: 9 of 28 projects selected for the second INCENSe acceleration project were Spanish, making Spain the recipient of almost a third of the awards.

A variety of Spanish companies are jumping on the green-wagon, too. For example, Paradores, state-run hotels in Spain, have committed to sourcing 100% of their energy from renewable sources. Big businesses, such as Bankia, Mapfre, and Telefónia all received an “A” CDP rating in 2017, a measure of their progress towards sustainability.

Still not convinced? According to Hanno Schoklitsch (Executive President of Kaiserwetter, a German multinational company that manages renewable energy assets), Spain currently has “the most desirable renewable energy market in Europe”. The Association of Renewable Energy Businesses (APPA) has estimated that the boom in the renewable energy sector will be highly profitable for Spain, bringing between 80 and 100 billion euros by 2030.

In other words, the future is bright (lighted with renewable energy, of course).

Want to be a part of it?

Genera, the International Energy and Environment Fair, will take place from February 26 – March 1, 2019, in IFEMA, Madrid. 76 environmentally-conscious companies will be showcased, including Spanish companies such as ACCIONA, ELECNOR, and GAMESA.

At Gedeth, we believe in the importance of investing in the future. Cleantech companies, aside from their obvious environmental impact, are far-reaching – they have global demand that is on the rise. It’s hard to imagine anything but growth for the future.