Spain and Bloomberg Philanthropies Forge a New Partnership with the Launch of Green Tech Accelerator in Madrid

New effort answers the UN Secretary-General’s call for faster action on grid infrastructure and aims to show how abundant green power can lower costs, strengthen energy security, and drive industrial competitiveness

NEW YORK – Today, during the United Nations General Assembly, Prime Minister Pedro Sánchez and Michael R. Bloomberg announced the Spain Green Energy and Grid Accelerator, a new partnership between the Government of Spain and Bloomberg Philanthropies to position Spain as a leading global model for how abundant renewable energy, stronger grids, and growing electricity demand can support a more competitive and secure economy.

The announcement follows a call earlier today from United Nations Secretary-General António Guterres for governments, businesses, and philanthropies to step up investment and action on the grid infrastructure needed to power the next phase of the global energy transition. The new partnership will put that call into action, bringing together public leadership and philanthropic support to help Spain convert its green energy advantage into broader economic gains and demonstrate an approach that other countries can follow.

“The crisis is accelerating – but so are the solutions. Renewables are the cheapest, fastest, and most secure source of new electricity almost everywhere. Clean energy has gone from alternative to unstoppable…Surging demand for power – not least from artificial intelligence – must be met with a surge in renewables, grids and storage,” said United Nations Secretary-General António Guterres at today’s UN Climate Summit. 

“Spain’s green energy leadership is becoming an economic advantage for our families, workers, and businesses. By investing in stronger grids and accelerating electrification, we can lower costs, strengthen our energy independence, attract new industries, and demonstrate a model for Europe and the world. Today, Spain is answering the Secretary-General’s call with action,” said Pedro Sánchez, Prime Minister of Spain.

Spain has already built one of Europe’s strongest green energy foundations. Around 60% of the country’s electricity generation now comes from renewable sources, including wind and solar, helping make Spain one of Europe’s most competitive major electricity markets. The opportunity now is to continue translating that abundance into lasting economic advantage. That means ensuring affordable green electricity can reach the factories, homes, businesses, and vehicles that need it — reliably and securely — while expanding grids, storage, flexibility, and electricity demand from industry.

“As the demand for clean energy grows, Spain is meeting the moment. Modernizing grids will help lower costs, strengthen industry, and increase energy security. Bloomberg Philanthropies looks forward to working with Prime Minister Sánchez to make Spain a model for the world when it comes to clean energy,” said Michael R. Bloomberg, UN Special Envoy on Climate Ambition and Solutions and founder of Bloomberg L.P. and Bloomberg Philanthropies.

Spain has already committed significant investment to modernize and expand its electricity networks. Bloomberg Philanthropies will complement that work by supporting the Accelerator’s efforts to turn green power into economic advantage, through independent analysis, private-sector mobilization, and the sharing of lessons internationally.

The Spain Green Energy and Grid Accelerator will initially focus on three areas:

• Demonstrating the economic value of abundant green energy. The partnership will build the evidence base for how Spain’s green energy advantage can lower costs, strengthen energy security, attract investment, create opportunities for the citizens and businesses (including SMEs) and increase industrial competitiveness — while identifying the grid investments and policy reforms needed to continue capturing that value and increase it.
• Turning Spain into a leading European green tech hub. The new Accelerator will develop a blueprint for a platform designed to attract and accelerate investment in sectors including green steel, photovoltaic and wind value chains, electrolyzers, electric vehicles, batteries and heat pumps. The Accelerator will strive to showcase the advantages of Spain as Spain offers one of Europe’s most compelling ecosystems for green-tech manufacturing and R&D, combining a strong industrial base, world-class logistics infrastructure, abundant strategic resources such as critical raw materials, leading hydrogen hubs, a highly qualified talent pool, and a privileged geographical location as a bridge between Latin America, Europe and Africa.
• Making Spain a global model for the next phase of the energy transition. The Accelerator will document and share lessons from Spain’s experience with countries worldwide, including emerging markets where Bloomberg Philanthropies is active. The goal is to demonstrate how countries can move beyond adding renewable capacity alone and build the grids, storage, flexible demand, and industrial ecosystems needed to turn green power into economic development.

“Spain’s experience shows that accelerating the deployment of renewable energy strengthens our economic security, supports industrial competitiveness and helps make energy more affordable. The next challenge is to build a true Energy Union, combining renewables with greater energy efficiency, stronger and better interconnected grids, electrification and storage. We are moving in that direction with the Grids Package, the Electrification Action Plan and our strategy for a clean and competitive energy system,” said Teresa Ribera, Executive Vice-President of the European Commission.

Together, the Government of Spain and Bloomberg Philanthropies aim to demonstrate that the next phase of the green energy transition can deliver not only lower emissions, but also lower energy costs, greater security, more investment, resilient supply chains and a more competitive economy.