The Vice President and Minister of Ecological Transition and Demographic Challenge, Sara Aagesenparticipated in the analysis event, ‘The contribution of Spain and Portugal to the revitalization of European competitiveness’, organized by the World Economic Forumwhich is being held Davos.
During this meeting between companies and public institutions from Spain and Portugal, Aagesen has called for “taking advantage of the historic opportunity” that renewable energies offer “to reindustrialize, implement structural reforms that improve our economic competitiveness and pursue growth that is sustainable and fair.”.
The Vice President recalled the conclusions of the recent report prepared by the global strategic consultancy McKinsey – moderator of the event –, in which The development of the green agenda in the Iberian Peninsula is appreciated.
In a unique way, the clear competitive advantages demonstrated by Spain’s commitment to decarbonisation compared to other leading European countries: lower costs of renewable energy and hydrogen generationa solid industrial base – especially in the automotive and steel sectors -, robust infrastructure (ports) or access to critical raw materials.
Spain as ‘reference’
In these last six years of government in Spain Our country is fully aware of the competitive opportunities offered by the green agendaas well as the “urgent need” to modernize our economic model, not only for climatic but also economic reasons.
Spain has one National Energy and Climate Plan (2023-2030) updated, which prioritises electrification, the deployment of renewable energy sources, hydrogen, biogas, industrial decarbonisation and electric vehicles and their components.
These policies are already delivering results and sending strong signals, both for decarbonisation and for the competitiveness of our economy.and to attract new projects. Spain has become a country with competitive prices and an unparalleled ecosystem.
One of the first major economies in the EU with more than 50% renewable energy generation. In 2024, Spain registered the most competitive electricity prices compared to its market rivals.
Foreign direct investment in Spain is 50% higher than ten years agoOur country’s economic growth has been successfully decoupled from emissions and will exceed 3% annually in 2024, while the Eurozone has limited its growth to 0.6%.
Nasty Sara Aagesen“We are on the right track and we have all the essential elements in place to make this historic opportunity for the country a reality: natural resources, infrastructure, industry, talent, businesses, planning, regulations and support programs.”