Spain launches €700 million support scheme for energy storage
Spain is targeting around 22.5GW of energy storage by 2030 as part of its National Energy and Climate Plan (NECP). But, it has been relatively slower to deploy grid-scale
Despite having a clear strategy and ambitious goals in the sector of energy storage In Spain, subsidies and direct aid specific to these technologies remain limited. This creates a significant barrier for companies and individuals interested in investing in energy storage solutions.
A total of €700 million (US$800 million) is available in the form of capex grants. It is open to standalone battery energy storage system (BESS) projects, thermal energy storage projects and pumped hydro energy storage (PHES) projects as well as those that are hybridised with renewable generation facilities.
It is open to standalone battery energy storage system (BESS) projects, thermal energy storage projects and pumped hydro energy storage (PHES) projects as well as those that are hybridised with renewable generation facilities. Eligible costs include civil works, storage systems, auxiliary equipment and systems and related expenses.
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