Spain supplies monetary assist for 600 MW of utility-scale storage – pv journal Worldwide


From pv journal Spain

The Spanish authorities has introduced a funding scheme for hybrid power storage initiatives that generate electrical energy from renewable sources. The scheme is a part of its Restoration, Transformation and Resilience Plan (RRTP).

The scheme will finance 5 storage initiatives with a cumulative put in capability of a minimum of 600 MW, or equal complete power provide. The initiatives should be hybridized with renewables, however the funds will solely cowl the addition of storage.

The utmost funding accessible per mission and per developer is €15 million. The quantity of support for every set up can be decided in keeping with complete mission prices and the dimensions of the builders. The identical mission will be financed each by the Spanish authorities’s incentive scheme and different packages from the European Union, so long as the funds aren’t used to cowl the identical prices.

The federal government will solely present subsidies to initiatives that wouldn’t be financially viable with out state assist. Initiatives below growth earlier than making use of for funding won’t be eligible. Initiatives don’t require grid connection permits to qualify for financing, as builders can get hold of permits throughout the execution part. Advance fee of as much as 80% of the whole funds could also be requested to facilitate mission financing.

Commenting on the initiative, Luis Marquina, president of Spain’s storage affiliation Aepibal, advised pv journal that it “is a step ahead, indeniable and crucial, however which additionally raises many questions.” He hopes these questions can be answered in future consultations with the federal government, noting that clarification on what counts as an revolutionary storage mission and the beginning date of a hybrid mission are wanted.

The decision for proposals can be centralized by the Spanish Institute for the Diversification and Saving of Vitality, which is able to grant the funds on a aggressive foundation. Eligible initiatives have till the tip of December to use. The scheme will final till Dec. 31, 2025.

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