The Spanish ministry for ecological transition on Thursday announced that it has granted EUR 150 million (USD 166.1m) of state aid drawn from NextGenEU funds to support 36 energy storage projects co-located with renewable energy facilities throughout Spain.
Awarded through a competitive bidding situation, these funds will subsidise the installation of a total of 904 MW of electrochemical energy storage systems mainly at solar and wind farms across the country. The ministry expects the selected projects to attract investments of around EUR 570 million, while contributing to Spain’s target of reaching 22 GW of energy storage by 2030, in line with the draft for a revised National Energy and Climate Plan (NECP).
The selected 36 projects, which were chosen from a pool of 266 applications, are located in various municipalities across nine regions of Spain — Andalusia, Aragon, Castile and Leon, Valencia, Galicia, the Balearic Islands, Navarre, Castile-La Mancha and Extremadura. The most powerful projects, in the ministry’s words, are located in Castile-La Mancha and Extremadura, where the aid totals EUR 95.4 million for 632.4 MW of storage capacity.
(EUR 1.0 = USD 1.107)
Source: renewablesnow
