Business · Energy & Commodities · 3 hrs ago
Europe’s wind industry shifts focus from growth to profitability
Europe’s wind industry is shifting from rapid expansion to profitability as developers face tougher investment conditions.
Spain had 33,274 megawatts of installed wind capacity, nearly a quarter of its power-generation capacity, in 2025.
Major Spanish wind developers include Iberdrola, Acciona Energía, Enel Green Power, EDP Renováveis and Naturgy.
Many wind projects produce less electricity than expected, weakening the returns used to justify their financing.
Permitting delays, grid access and financing costs are key obstacles in Spain, alongside concerns about project profitability.
Spain aims to reach 62 gigawatts of wind capacity by 2030, including 3 gigawatts offshore, while an EU directive sets a renewable-energy target of at least 42.5% of final energy use.
Selective investment and possible consolidation may reshape the sector, with financially stronger operators potentially buying assets from developers seeking to free up capital.
Europe’s wind industry is shifting from growth in installed capacity towards profitability, financial strength and disciplined investment.
Europe had 304 gigawatts of installed wind capacity in 2025, including 265 GW onshore and 39 GW offshore.
Spain had 33,274 megawatts of installed wind capacity, up 3.6% from 2024.
Interpath says permitting, grid access, financing costs and project returns are key challenges, rather than technology.
Spain’s 2030 target is 62 GW of installed wind capacity, including 3 GW offshore.
- Who
- European wind industry companies, including developers and operators. In Spain, major developers include Iberdrola, Acciona Energía, Enel Green Power, EDP Renováveis and Naturgy.
- What
- The industry is shifting its focus from increasing installed capacity to profitability and more selective investment.
- When
- The article was published on 21 October 2026. It describes the shift as underway.
- Where
- Europe, with particular attention to Spain.
- Why
- Competition in auctions, supplier influence, negative electricity prices, financing costs, permitting delays and grid access are affecting project returns.
This story does not have two clearly opposing sides.
Spain’s installed wind capacity was lower than its 2025 total, which represented a 3.6% increase.
Europe had 304 GW of installed wind capacity, including 265 GW onshore and 39 GW offshore.
Expansión published its report on the wind industry’s shift towards profitability.
Spain’s target is 62 GW of installed wind capacity, including 3 GW offshore.
- Europe wind capacity in 2025
- 304 GW
- Europe onshore capacity in 2025
- 265 GW
- Europe offshore capacity in 2025
- 39 GW
- Spain wind capacity
- 33,274 MW, up 3.6% from 2024
- Spain 2030 target
- 62 GW, including 3 GW offshore
What people are saying
The European wind sector is moving from a model of growth driven by installed capacity to one focused on investment profitability, where financial strength, operational efficiency and discipline in capital allocation will determine the winners
Reaching the National Integrated Energy and Climate Plan target of 62 GW of installed wind capacity in 2030, including 3 GW offshore wind, will require addressing several structural challenges