Spain is one of the countries with the greatest wind and solar renewable potential in Europe. It is positioning itself to take advantage of the opportunity of the energy transition within the framework of the European Green Deal, which will entail a total transformation of European energy systems in order to achieve the climate neutrality by 2050. The Ukraine conflict has given a boost to EU decarbonization plans and has reinforced the implementation of renewables to reduce the EU's external energy dependency. The presentation will analyze the current situation of the Spanish power system, the fourth largest market in the EU, as well as the opportunities and challenges for the future