Renewable block

Opposition to renewable energy projects in Galicia has spread to Spain’s central government, stalling hundreds of wind and solar projects at the Ministry for Ecological Transition. 

Anti-renewable groups have filed thousands of appeals, estimated to be between 6,000 and 15,000, blocking the system and delaying projects. The government launched a ‘Shock Plan,’ reorganising internally to resolve appeals within weeks, targeting hundreds of weekly decisions. Critics, including the Spanish Wind Energy Association (AEE), call it an abuse of administrative processes.

Talent gap

A ManpowerGroup study, ‘Talent Mismatch 2025’, reveals that 75 per cent of Spanish companies face difficulties hiring suitable staff, a slight improvement from 78 per cent in 2024 and a peak of 80 per cent in 2022-2023. Though down from recent highs, the figure is five times higher than a decade ago. Transport, logistics, and automotive lead with an 84 per cent talent gap, followed by energy and tech, caused by digitalisation demands. Consumer goods and industry match the national average.

Repsol’s Easter discounts

Repsol is capitalising on Easter to challenge Iberdrola, Endesa, and Naturgy, doubling fuel discounts for Waylet’s 9 million users from April 1 to 21 while promoting its electricity tariff. Loyal customers can save up to 40 cents per litre and access the ‘Tranquilidad’ plan at €0.1299/kWh, with added perks like 2 per cent Waylet credit and home maintenance. Electric vehicle users get €0.0999/kWh charging rates, with up to 100 per cent cash-back. Repsol looks to outpace its competitors.

TikTok hangs in there

President Donald Trump has granted a 75-day extension for ByteDance to divest from TikTok in the US, delaying a ban due for January under a new law. Faced with a 54 per cent tariff, China’s displeasure was expressed, but Trump hopes to negotiate, potentially easing tariffs for a deal. He hopes to preserve TikTok, which is used by 170 million Americans, despite security concerns, a key campaign promise. Oracle and OnlyFans’ founder lead potential buyers, though Amazon’s bid awaits.

On target

Santander President Ana Botín will announce at the upcoming shareholder meeting a projected first-quarter RoTE of 15.7 per cent advancing toward a 16.5 percent annual goal. The bank expects a CET1 of 12.9 per cent and a 14 per cent + rise in tangible book value plus dividends. Botín will reaffirm 2025 targets of €62 billion in revenue and reduced costs.

Electric partners

Bayer and Iberdrola have closed a deal to electrify Bayer’s La Felguera plant in Asturias. Iberdrola will install a cutting-edge thermal storage system, converting 100 per cent renewable electricity from an adjacent self-consumption facility and other renewable plants into steam for Bayer’s operations. This pioneering heat purchase agreement, Spain’s first, supports industrial decarbonisation.

Health Tech

Spain’s health technology sector grew 5.7 per cent in 2024, reaching €11.627 billion. Exports rose 7 per cent to €4.955 billion, with the US market, up 42 per cent, as the second-largest destination. Despite US tariff risks, innovation soared with a 14 per cent patent increase, and employment hit 35,000, up 9.4 per cent.

Oil Plunges

Oil prices have fallen sharply, with Brent dropping over 2.5 per cent to $63.8 and West Texas sinking 2.7 per cent below $60 per barrel, hitting 2021 lows. Escalating US-China tensions, including reciprocal tariffs effective April 10, have sparked fears of a global trade war and recession, dampening crude demand.

Wild Unilever

Unilever has acquired Wild, a UK-based natural deodorant brand, for an estimated £230 million, netting co-founders Charlie Bowes-Lyon and Freddy Ward nearly £100 million. Founded six years ago, Wild’s 2023 sales hit £46.9 million. The deal adds to Unilever’s sustainable portfolio, with Wild targeting US growth despite tariff challenges

Gold Prices hit 3-week low

Gold prices have fallen to their lowest in more than three weeks, dropping to approximately €2,700 per ounce and $3,000 per ounce in New York, as global markets reel from US President Donald Trump’s tariffs. Investors sold gold to offset losses after a 3 per cent plunge on last week, triggered by a $6 trillion US stock market decimation and China’s retaliatory 34 per cent tax on US imports. Recession fears have intensified, with Japan’s Nikkei down nearly 9 per cent. Despite central banks like China adding to gold reserves, analysts see short-term shakiness overshadowing gold’s safe-haven status.

UK approves Luton Airport Expansion

The UK government has greenlit a £2.4 billion ( €2.85 billion) expansion of Luton Airport, managed by Spain’s Aena, which holds a 51 per cent stake in the operating consortium. The project, approved by Transport Minister Heidi Alexander, will boost the airport’s capacity from 18 to 32 million passengers annually by 2043, despite environmental objections from the Planning Inspectorate. It includes a new terminal, upgraded transport links like the Luton DART rail, and 11,000 new jobs, promising a £1.5 billion yearly economic boost. Aena, with AMP Capital owning the remaining 49%, aims to extend its concession beyond 2032 to oversee the works.

EV subsidies continue

Spain’s Ministry of Ecological Transition launched the third Plan Moves on April 1, offering €400 million in subsidies for electric vehicle purchases, retroactive to January 1. Open to individuals, businesses, and public entities until December 31, 2025, aid ranges from €1,100-€9,000, with bonuses for scrapping old cars.

Moeve innovation aid

Moeve’s first open innovation platform, Moeve Light Up, invites startups and partners via a web form to collaborate on new technologies and new energy transition businesses. Using Moeve’s tech and innovation spaces, the accelerator aims to place the energy company at the heart of the sector’s innovation ecosystem.

Caixa AI

CaixaBank and Salesforce have signed a deal to improve banking services through AI. Using Salesforce’s Agentforce and Data Cloud, CaixaBank hopes to improve the customer experience, streamline channels, and increase employee efficiency by automating repetitive tasks. The collaboration centralises sales and service interactions for digital transformation.

Mineral rich

The EU’s new strategy aims to secure critical raw materials like aluminium and lithium, reducing reliance on China amid rising demand for energy, tech, and defence sectors. Targeting 34 key materials, including 17 strategic ones, the EU has approved 47 projects, seven in Spain, most notably Andalusia’s mining potential.

Tariffs threaten olive oil dominance

Trump’s tariffs could disrupt the global olive oil market, endangering Spain’s position as the world’s top producer. Spain’s output hit 1.29 million tonnes this year, up 51 per cent from last season, supported by favourable rains after two dire harvests. However, Trump’s 20 per cent tariff on EU olive oil, versus 10 per cent for Turkey, favours competitors. Turkey, now the second-largest producer with 450,000 tonnes, benefits from lower costs, threatening Spain’s 65 per cent share of US imports alongside Italy. Spain exports 180,000 tonnes annually to the US, a market unmatched by alternatives like China, which cut imports by 60 per cent. Industry leaders warn of lost competitiveness.