Elon Musk

Spanish Prime Minister Invites Elon Musk to Invest in Sustainable Energy in the Country

Spanish Prime Minister Invites Elon Musk to Invest in Sustainable Energy in the Country

Photo: Nature Picture Library/YouTube

Spanish Prime Minister Pedro Sanchez invited Elon Musk to invest in sustainable energy in the country. This comes after a recent comment by the head of Tesla that Spain is going to invest billions of euros in the development of microchips and semiconductors.

Spain recently announced plans to invest 11 billion euros ($12.4 billion) in microchip and semiconductor development to modernize its tourism-dependent economy, according to Bloomberg. “We want our country to be at the vanguard of industrial and technological progress,” said Prime Minister Pedro Sanchez. The investment is reportedly the latest attempt to rebuild an economy that has been hit harder by the pandemic than most other European countries and is under pressure following Russia's invasion of Ukraine.

Assessing the overall situation, Tesla CEO Elon Musk commented on the news, saying that Spain would need to build a massive solar array that could power all of Europe. Musk's comment is based on several obvious facts. First, Europe is now in dire need of energy. For decades, European countries have increased their dependence on coal, oil, and gas from Russia. European countries, continuing to buy energy from Russia, become silent investors in the war against Ukraine. This state of affairs puts the European countries in a bad position. Although renewable energy in the region continued to develop, this was completely insufficient to meet their own needs and resolutely refuse any business with Russia.

Secondly, Spain is one of the most suitable regions in Europe to host solar power plants, because in some parts of the country the weather remains sunny and cloudless for more than 150 days a year. Thus, a sufficient number of solar panels could provide electricity to the whole of Europe. In addition, the country has regions where it is possible to receive a large amount of energy from water and wind.

Because this is of particular relevance right now, Musk pointed out that investing in solar farms would be very smart. He also agreed with the statement that solar farms in Portugal could also play an alternative to hosting them in Spain.

Sanchez, in response to Musk's tweet, defended his government's energy policy and invited the head of Tesla to visit the country to discuss investing in the renewable energy sector.

"We’re already implementing the most ambitious plan towards efficient & sustainable energy system. All sectors on board. Maximizing opportunities, digitalization and value chain for a long lasting success. Time is now. Let's get it right. Come and see. We welcome investors in Spain."

Spain, which has sunny plains, fast rivers, and windy hillsides, plans to get 67% of its electricity from renewable energy sources by 2026, according to Reuters. Data from national grid operator Red Electrica showed that renewables accounted for 45% of electricity generation in March 2022, while solar PV accounted for about 6.4%.

© 2022, Eva Fox | Tesmanian. All rights reserved.


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Article edited by @SmokeyShorts, you can follow him on Twitter

About the Author

Eva Fox

Eva Fox

Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.

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