Which is the energy storage subsidy policy in port of spain

How will the European Commission support large-scale energy storage in Spain?

The European Commission on Monday approved a new aid scheme for the deployment of large-scale electricity storage in Spain. Subsidies will be available for standalone energy storage sites, projects installed alongside renewable energy facilities, and storage planned as part of thermal power plants.

How much will Spain invest in energy storage projects?

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).

Does Spain support energy storage?

Spain already backs energy storage with more than €600 million of NextGenEU funding which was allocated as part of Spain’s, post-Covid Recovery, Transformation, and Resilience Plan. From pv magazine España.

Can Spain deploy large-scale energy storage with co-financing of 85%?

The European Commission on Monday greenlit a new aid scheme to enable Spain to deploy large-scale energy storage with co-financing of up to 85%. The European Commission on Monday approved a new aid scheme for the deployment of large-scale electricity storage in Spain.

Will Spain reach 30 GW of energy storage by 2050?

The Spanish government on Tuesday approved the energy storage strategy, targeting some 20 GW of storage capacity in 2030 and reaching 30 GW by 2050 from today’s 8.3 GW.

How does Spain's energy system work?

Storage that is currently available in Spain comes mainly from pumped hydro and concentrated solar power (CSP) plants, to which the government wants to add large-scale batteries, behind-the-metre batteries -- minimum 400 MW in 2030 -- and make the most of the vehicle-to-grid technology, according to the document.