According to the reports, Spain’s Ministry for Ecological Transition has recently allocated 156.4 million euros (approximately $162.8 million US) in subsidies to 45 innovative energy storage projects. These include standalone storage plans as well as thermal storage projects using molten salt and solid materials.
The funding comes from the Institute for Energy Diversification and Savings as well as part of the Recovery and Resilience Fund (RRF). This follows an earlier 100 million euros (approximately $104.1 US) grant in July for four pumped-storage hydropower projects.
The ministry stated that the new initiatives are expected to increase Spain’s storage power by more than 779 MW and capacity by over 3,400 MWh. During a competitive bidding process, 35 projects focused on electrochemical storage will add 2,820 MWh of storage capacity and 690.2 MW of power, with a total budget of 150 million euros (approximately $156.2 US).
And the remaining 10 projects in the bidding will utilize thermal storage technologies with systems using molten salt and solid materials, in a gesture to add 88.35 MW of power and 591.27 MWh of storage capacity. The bidders in this category will share 6.48 million euros (approximately $6.75 US). The ministry also said that the projects are spread across various regions of Spain.
By providing critical funding for cutting-edge fields such as electrochemical storage and thermal storage technologies, Spain is accelerating the creation of a more flexible, efficient, and sustainable energy system. The country’s goal is to achieve 22.5 GW of energy storage capacity on its electrical grid by 2030, supported by initiatives such as the PERTE bidding for the deployment of projects.
Source: WeChat Official Account—TrendForce
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