Summary of Rafael Echegoyen's Interview, Head of M&A Advisory & Legal Services

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Rafael Echegoyen, Head of M&A & Legal Services, gave an interview for Infoenergética at the last edition of Energyear Spain. In the interview, he discussed current issues from his extensive experience in the sector, some as relevant as the scope of the objectives of the Integrated National Energy and Climate Plan, the evolution of the renewable energy market and some of the most important legal challenges facing the sector. In particular, he highlighted the importance of developer agreements and operating regulations in common evacuation infrastructures.

During the interview, the Spanish energy context was reviewed, highlighting the dynamic evolution that the market is currently experiencing thanks to Royal Decree 1178/2023 of 27th December, which has led to the extension of the deadlines for connecting projects. This measure, together with the flexibility to choose the connection semester, has inspired confidence in promoters and developers, encouraging transactions and reactivating the market to some extent.

It further enhances the value of renewable asset management itself, which presents significant challenges. Energy management, i.e. optimising the production and sale of energy in an oversupplied market, is becoming crucial. In this way, aspects such as energy storage emerge as a priority topic for discussion and all parties involved in the sector must participate, since without clear regulation, the renewable energy sector faces difficulties in sustaining its growth and viability in the medium to long term.

The dynamism of the market and its continuous construction force all parties involved to take steps in the same direction, and therefore Rafael focuses on one of the examples that is being presented during this time and is the collaboration between developers to share common evacuation infrastructures raising new legal challenges in which Vector Renewables has extensive experience and provides constant advice to support its clients. The need to properly regulate these arrangements and develop comprehensive operating regulations is crucial, both at the development stage and once the projects are operational.

Rafael Echegoyen underlines “In the legal field of renewable energy, the current trend is collaboration between developers on common evacuation infrastructure. This practice generates complexities that require detailed regulation in contracts and agreements. We can be the ones to help them put all their interests on the table, facilitating the negotiation of these developer agreements and the drafting of operating regulations”.

In relation to the objectives of the National Integrated Energy and Climate Plan, Echegoyen raises the importance of specific measures to stimulate the demand for electricity, such as the electrification of industry and the promotion of electric vehicles. He highlights the urgency of investing in energy storage, both independent and hybridisation projects, in order to achieve these objectives. Finally, he underlines once again the need for close collaboration between all actors, including the government, to move towards a sustainable energy future together.

For more information about Rafael Echegoyen or Vector Renewables' Legal Services Department, please fill in the web form or contact Rafael Echegoyen via LinkedIn.

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