Richard Whiffin’s side have been hit by comebacks from Argentina and France in the tournament in Italy.
That means their semi-final hopes are gone but they still play for placings and will be keen to avoid the bottom bracket, which features a relegation play-off on final weekend.
Hooker Wood starts against the Spanish while Dragons lock Nick Thomas and flanker Harry Beddall join him in the XV.
Back row forward Evan Minto, prop Owain James and fly-half Harri Ford are on the bench for the clash in Verona (kick-off 2.30pm).
Spain were superb against Argentina to give themselves a shot at an upset but were hit by a comeback to lose 33-30.
Wales must aim to win with a bonus point and that should be enough to move into the 5th to 8th play-offs rather than 9th to 12th, with the bonus points from England versus Australia game potentially key to that (kick-off 5pm).
Wales Under-20s: Lewis Edwards; Elijah Evans, Osian Darwin-Lewis, Elis Price, Aidan Boshoff; Harri Wilde, Ellis Lewis; Ioan Emanuel, Evan Wood, Jac Pritchard, Luke Evans, Nick Thomas, Deian Gwynne, Caio James, Harry Beddall (captain).
Replacements: Jake Bowen, Owain James, Sam Scott, Dan Gemine, Evan Minto, Sion Davies, Harri Ford, Jack Woods.