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Spain’s Clean Power Deal Boom Dented by Cheap Energy, Study Says

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Surging solar output has driven Spain’s power prices increasingly lower.

Photographer: Angel Garcia/BloombergFacebookXLinkedInEmailLinkGiftGift this articleContact us:Provide news feedback or report an errorConfidential tip?Send a tip to our reportersSite feedback:Take our SurveyNew WindowFacebookXLinkedInEmailLinkGiftBy Thomas GualtieriOctober 20, 2025 at 1:08 PM UTCBookmarkSave

Spain’s lower electricity prices are denting the country’s clean-energy deals boom with a sharp decline in valuations, global advisory firm Alvarez & Marsal said.

The valuations of early-stage projects, especially ready-to-build ones, have shrunk by more than 60% between 2021 and 2023, to a range of €50,000 to €90,000 ($58,000-$105,000) per megawatt, according to a report by the firm published Monday.

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