Spanish grid operator Red Eléctrica said Thursday that renewable energy sources could account for half of the country's annual electricity generation this year, up from 42% in 2022.

The estimate was announced during the presentation of Red Eléctrica's annual reports by the group's president, former Housing Minister Beatriz Corredor, who also warned that the data is still subject to a high degree of uncertainty.

"2023 will be a great year for the ecological transition in Spain and a transcendental exercise for us to consolidate our position as the renewable engine of the European Union," said Corredor, while highlighting the "critical role" played by the electricity grid in this process.

In its report on renewables, the company, in which the State has a 20% stake, points out that Spain added 5.9 gigawatts of new renewable power last year, which represented records in wind and solar production.

However, the nearly 40% drop in hydroelectric production due to widespread droughts skewed the share of renewables in the mix, which by 2021 had reached 46.7% of the total.

Among European Union countries, Spain is second only to Germany in installed renewable capacity, according to Red Eléctrica.

(Information by Tiago Brandão; edited in Spanish by Benjamín Mejías Valencia)