What is Spain's energy storage program?

For stakeholders in battery storage, thermal storage, and pumped hydro, this program offers not only financial backing but also long-term stability and political support. Spain has launched a €700 million energy storage program to support battery, thermal, and pumped hydro projects, aiming to deploy 2.5–3.5 GW of capacity.

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.

What is Spain's energy storage subsidy plan?

EU approved Spain's €700 million energy storage subsidy plan, enabling Spain to deploy large-scale battery storage with co-financing up to 85%.

Will Spain be able to deploy large-scale electricity storage?

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.

How much money will Spain spend on energy storage projects?

Spain’s ministry for the ecological transition said on Friday it will allocate EUR 700 million (USD 799.4m) in grants through competitive tendering to support large-scale energy storage projects in an effort to improve grid flexibility and integrate more renewables. Vanadium redox flow battery installed at the Son Orlandis solar farm in Mallorca.

How will Spain increase its energy storage capacity?

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 includes pumped hydro, thermal energy storage, and battery systems.