Spain''s €700 Million Plan to Boost Energy Storage and
Spain has launched an ambitious €700 million (around $796 million) program to increase its energy storage capacity. This plan will add 2.5 to 3.5 gigawatts (GW) of storage. It
The European Commission has approved a new aid scheme that will allow Spain to deploy large-scale electricity storage, both in hybridisation with renewable energy facilities and stand-alone and thermal.
Investing in energy storage helps Spain meet its climate goals. This includes achieving carbon neutrality by 2050. Storing renewable energy instead of wasting it helps the country rely less on fossil fuels. This also cuts down greenhouse gas emissions. Pumped hydro, thermal storage, and battery systems are effective technologies.
Taking into consideration the ratios of aid granted per megawatt of storage in previous calls, 2.5 to 3.5 gigawatts of new capacity could be expected. This decisive boost to the development of energy storage will help ensure the transformation of the energy system to make it more flexible, robust and resilient.
To promote the development of energy storage, the package proposes to speed up permits for projects, exempting them from the environmental assessment procedure if the facility is within the perimeter of a renewable plant that already has a positive environmental assessment. This is something the industry has been requesting for some time.
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