RES and risk: Renewable energy's contribution to energy security. A portfolio-based approach

After introducing the energy security/energy risk concept and its dimensions, the article focuses on the contribution of RES in terms of security of supply for a given energy mix using the portfolio theory. Most of the analyses of the interactions between RES and energy security focus on the national level, with RES being mainly conceived as a substitute for fuel imports to produce electricity and reduce so-called energy dependence. However, new transmission technologies allow the import of electricity directly from neighbouring countries far out of the range of regular electricity lines. Therefore, this article tries to broaden the analysis of energy security to international RES trade flows, applying the previous discussion to the main project involving significant international green electricity trade, the Mediterranean Solar Plan.