Spain and Portugal Lead Europe's Green Energy Transition and Job Creation
Spain and Portugal are leading a transformative green energy transition in Europe, poised to create up to one million jobs and €1 trillion in value by 2030 through strategic industrial initiatives and workforce development.
- • The Iberian Initiative for Industry and Energy Transition aims to create nearly one million jobs and €1 trillion in value by 2030.
- • Spain is expected to generate 449,000 green jobs by 2040, notably in renewables and hydrogen industries.
- • Five strategic lines include regulatory reform, infrastructure acceleration, innovation investment, talent productivity, and strategic coordination.
- • Demographic challenges and workforce upskilling are critical to meeting the transition’s labor demands.
Key details
Spain and Portugal are positioning themselves as pivotal players in Europe's energy transition and industrial competitiveness. According to the Iberian Initiative for Industry and Energy Transition (IETI), this effort could generate up to €1 trillion in added value and create nearly one million new jobs by 2030. This ambitious vision was detailed at the World Economic Forum in Davos and supported by McKinsey alongside industry leaders like Moeve.
The initiative outlines five strategic actions to realize this potential: enhancing ambition and coordination to scale industrial ecosystems in sectors such as renewable fuels, batteries, technology, and AI; streamlining regulations to boost competitiveness and improve business environments; accelerating deployment of critical infrastructure like electric networks and logistics; driving increased investment in innovation and R&D; and improving workforce productivity through reskilling and integration of AI tools.
Complementing this continental strategy, a Randstad Research report highlights Spain’s capacity to generate 449,000 green jobs by 2040. Key growth areas include renewable energy installations (150,000 jobs), industrial hydrogen (181,000 jobs), and indirect employment benefits from energy efficiency (118,000 jobs).
Despite these opportunities, challenges remain. Spain currently employs 24% of its workforce in critical environmental sectors — below the EU average of 27.3% — and faces demographic hurdles that could limit the availability of skilled labor. The transition demands significant upskilling, especially in transportation and construction industries, to meet electrification and energy-efficient renovation needs.
The broader economic benefits are substantial; the EU could save €130 billion annually by 2030 through renewable energy adoption, and Spain could create 118,000 indirect jobs by substituting fossil fuel imports with local renewables.
Experts stress urgency, calling for swift, cross-border cooperation and a shared vision to capitalize on the Iberian Peninsula’s competitive advantages — its strong renewable sector, industrial base, and ability to scale rapidly. Without immediate action, this strategic window risks closing. However, with coordinated effort, Spain and Portugal could become Europe’s engine for a sustainable and resilient energy future.
This article was translated and synthesized from Spanish sources, providing English-speaking readers with local perspectives.
Source articles (2)
Source comparison
Projected job creation by 2030 vs 2040
Sources report different timelines for job creation, with one projecting by 2030 and the other by 2040.
elmundo.es
"The Iberian Initiative for Industry and Energy Transition (IETI) could generate up to €1 trillion in added value and close to one million jobs by 2030."
rrhhdigital.com
"Spain is poised to create 449,000 green jobs by 2040."
Why this matters: The first source discusses the potential for nearly one million jobs by 2030, while the second source specifies 449,000 jobs by 2040. This discrepancy affects the understanding of the urgency and scale of job creation in the energy transition.