Renewable energy
Abundant sun and wind, combined with firm island decarbonisation targets, make this one of the archipelago's fastest-growing sectors.
Why it fits: Excellent natural resources and a binding policy target drive sustained demand for installation, storage, operations and maintenance bases.
Resources and momentum
Few places in Europe match the Canary Islands for renewable potential. Tenerife receives over 2,800 hours of sunshine a year on average, according to AEMET — among the highest figures anywhere in the European Union — and the trade winds give consistent wind resource across the archipelago.
Behind the resource sits a firm policy commitment. The Canary Islands’ Energy Transition Plan (PTECAN), driven by the Gobierno de Canarias, targets 100% renewable electricity generation by 2040, with an interim milestone of 35% by 2025. For isolated island grids that have historically depended on imported fuel, that target is not aspirational branding — it is a structural reason to bring generation, storage and grid services onto the islands. The drive to cut reliance on imported diesel is accelerating projects across all eight islands.
What operations locate here
The sector is broader than the solar farms themselves. We see demand from several types of operation, each with different premises needs:
- Equipment assembly and distribution — panels, inverters, mounting systems and battery packs staged for projects across the islands.
- Operations and maintenance (O&M) — service bases with workshop, parts storage and a yard for fleet vehicles that keep installed capacity running.
- Energy storage — buildings sized and certified for battery systems that firm up intermittent generation.
- Installers — contractors who need a depot for stock, tools and crews close to active project zones.
Many of these activities are eligible under the ZEC, which can bring the corporate tax rate to 4% for a qualifying company that meets the investment and employment requirements.
Premises versus land
There is an important split in this sector. Service, assembly and storage operations want a covered industrial unit — workshop space, secure storage, a yard and good road access for service fleets. Generation projects, by contrast, usually need open industrial land rather than a roofed building: a solar array or a substation is sited on a plot, not inside a warehouse.
We help you work out which you actually need before you start viewing, because the search, the cost base and the licensing path are different for a unit and for a plot. Tell us the operation and we point the search at the right asset type.
FAQ
- What is the renewable energy target in the Canary Islands?
- The regional Energy Transition Plan (PTECAN) targets 100% renewable electricity by 2040, with an interim goal of 35% by 2025, per the Gobierno de Canarias.
- How strong is the solar resource for energy businesses?
- Tenerife receives over 2,800 hours of sunshine per year on average (AEMET). That ranks among the highest figures anywhere in the European Union.
- Does a solar or wind business qualify for the ZEC?
- Equipment assembly, O&M and energy services can be eligible ZEC activities. Generation itself depends on the structure. Confirm your case with an adviser.