Pedro Sánchez Unveils 2026 Industrial Policy Boost with Sovereign Fund and Decarbonization Drive

Spanish Prime Minister Pedro Sánchez announced a significant enhancement of the nation's industrial policy, focusing on public-private collaboration, innovation, and sustainability. This comprehensive strategy aims to transition Spain from industrial reconversion to genuine productive reconstruction, emphasizing quality employment and national interests.

Sánchez detailed the launch of the 'España Crece' sovereign investment fund set for the second quarter of 2026, intended to support critical sectors such as energy, technology, and digitalization. He also highlighted a 330 million euro budget allocated to the second call of the Perte de Descarbonización Industrial, a program designed to modernize industrial production and reduce emissions while maintaining competitiveness.

Additional measures include a 40 million euro financing line to promote electric mobility among SMEs and freelancers, and plans for an open innovation hackathon in partnership with CDTI and EOI to stimulate industrial innovation. Sánchez stressed the role of vocational training, which has grown by 166% since 2018, with ten new national reference centers projected by 2026 to align skills with industry needs.

The Prime Minister underscored Spain's industrial sector growth, citing nearly 200,000 new industrial jobs since 2018, half of which were created in the past year, with industrial wages 12% above the national average. He emphasized that competitiveness hinges on innovation and process improvement rather than salary reductions.

In energy policy, Sánchez announced strategic investments in floating offshore wind energy, targeting between 1 and 3 gigawatts of capacity by 2030. He noted that Spanish electricity prices are currently 20% lower than the European average, providing a competitive edge for national industry.

Contextualizing these initiatives within Europe's broader technological landscape, Sánchez called for a stronger European technological presence and a reduction of technological dependencies, pointing out that only four of the world's 50 largest tech companies are European. This underscores the need for coordinated European industrial and technological autonomy.

The National Industry Congress concluded with Sánchez underscoring the government's commitment to expanding industrial policy through financial instruments, public investment, and talent development, aiming to meet future technological, energy, and geopolitical challenges effectively.

These initiatives mark a forward-looking step in Spain's economic strategic plan, combining environmental sustainability with industrial competitiveness and innovation.