The 25-year-old posted Suzuki's best result of the season last time out in Argentina when he finished in seventh place, having qualified on the front row of the grid.
However, the GSX-RR's lack of top speed has proven to be Suzuki's downfall so far this year, since it leaves them unable to get close enough to riders in front and then passing on the brakes, while leaving them vulnerable on the straights.
However, the average speed at last year's race at Jerez was 295km/h, significantly slower than the 330km/h average over the first three races of 2015.
"I'm happy to get back to Europe and to go to Jerez; it's a track I like and although it is not my home race we are in Spain and I will have extra support from the home fans," Espargaro told crash.net.
"The circuit could be good for us because the straight is not so long, allowing us to better exploit the advantages that come from our effective chassis.
"At the last races we experienced some issues, but they may also be related to the circuits we were at, so I'm looking forward to test the GSX-RR in Jerez to see how it goes. The team, both on track and at home in Japan, is working hard to support me in finding the best confidence with the bike. I believe we can pursue our objective to get well into the points again and hopefully be into the top eight.”
His team-mate Maverick Vinales will be participating at Jerez for the first time since making the step up from Moto3, but will draw from past experience during this week's event in Andalucia.
"I have good memories from Jerez," Vinales said.
"I've had some very good races there and I like the track, which should also be better for our machines than Austin and Termas de Rio Hondo. For sure racing in Spain is something emotional; there will be a lot of supporters and this will give me more 'push' to perform well.
"We know our strengths and our weaknesses so we will immediately start to test some improvements in the set-up and see how my GSX-RR will be at this particular circuit. On my side I know that as usual I will need to reset my reference points on the track and to make new ones according to the improving performance of the MotoGP machine, but my Suzuki has shown to be very adaptable; therefore the one that will have the most to do is me."