Else Beekman
Spain has never exported as much electricity as it does now; exports have reached record highs thanks to the growth of renewable energy. In March 2025, the country exported 1,536 GWh of electricity, an increase of 84.4% compared to a year earlier, according to industry association APPA.
With this growing capacity in wind and solar energy, Spain is becoming an important energy supplier to neighbouring countries, Xataka writes.
Surplus of renewable energy
Over the past three years, Spain has added more than 23,000 MW of new wind and solar installations. This led to a historic milestone: on certain days and during specific hours, 100% of national electricity demand was entirely met by renewable sources.
However, this success also brought with it the phenomenon of ‘curtailment’, where excess energy production must be reduced to prevent overloading the grid and to maintain grid stability.
In 2024, an estimated 3% of renewable production in Spain was curtailed, according to Red Eléctrica. This occurred particularly in sparsely populated regions such as Aragón and Castilla-La Mancha.
Nevertheless, this surplus allowed Spain to export an unprecedented amount of electricity. According to APPA Renovables’ monthly report, the increased renewable capacity directly contributed to the record export levels seen in March 2025. France imported 1,388 GWh, while returning only 197 GWh. The balance with Portugal was also positive: 775 GWh exported against 619 GWh imported. Particularly striking was the exchange with Morocco, where Spain exported seven times more energy than it imported.
Financial impact and market dynamics
Electricity exports earned Spain around €81.4 million in March, based on an average day-ahead market price (OMIE) of €53.09 per megawatt-hour, according to figures from market operator OMIE.
The country has now been a net exporter of electricity for 41 consecutive months — a period that coincides with the largest expansion of renewable energy in Spain’s history.
Although there was no explicit national plan to make Spain an energy exporter, measures such as the “Plan Nacional Integrado de Energía y Clima 2021-2030” (PNIEC) and the acceleration of permitting procedures have resulted in a structural surplus. Efforts are now focused on better utilising that surplus, giving priority to exports in order to avoid curtailment.
Why no falling electricity prices?
Remarkably, this abundance of cheap renewable electricity has not led to a corresponding drop in consumer prices. Under the European marginal pricing system, the most expensive required production method — often gas-fired power plants — sets the market price. As a result, electricity prices remain relatively high, even though renewable energy is much cheaper on average.
In March, the average market price stood at €53.09/MWh, no less than 161.8% higher than a year earlier. Gas-fired plants, still necessary for flexibility during peak periods, recorded an average price of €61/MWh.
Challenges
Although Spain is now thriving as an exporter of green energy and has secured a strong position within Europe, this success also brings new challenges.
The country is investing heavily in large-scale battery storage and in green hydrogen projects, such as the HyDeal España initiative, aimed at improving the storage and use of surplus solar and wind energy. Further integration of the European grid and a potential review of the pricing system are also being considered. These are crucial steps for a sustainable energy transition that is also more economically favourable for households and businesses.
Various energy experts, including publications in El Periódico de la Energía, emphasise that this new role as an exporter marks the beginning of a new phase in which Spain plays a central role in Europe’s energy transition.