Spain aims to auction 3.1 GW clean energy capacity by year-end

MADRID, Nov 6 (Reuters) - Spain aims to put up for auction at least 3.1 gigawatts (GW) of renewable energy capacity by the end of this year, the Energy and Environment Ministry said on Friday.

In line with Europe-wide efforts to stave off climate change by investing in an industry that may also create jobs, Spain aims to install 60 GW of renewable capacity by 2030.

A total of around 19.4 GW are set to be assigned through auctions between now and 2025, in a directive the ministry put up for public discussion on Friday.

By holding the auctions, the government hopes to encourage investment after the COVID-19 slump and reduce the cost of power for consumers.

At least 1 GW of the capacity auctioned this year will be for wind power generation, 1 GW solar photovoltaic and 80 megawatts for biomass, the ministry said in a statement. The rest of the planned capacity will be assigned to any technology.

Once the directive is approved, the ministry will fix a calendar for auctions over the next five years, in which participants will bid with the prices at which they would be willing to sell the energy generated. (Reporting by Isla Binnie, editing by Andrei Khalip)