January 4 (Renewables Now) - The Spanish region of the Canary Islands announced at the end of December it has plans to hold a call for investors to develop at least 180 MW of new wind power capacity.
This call will have a EUR-80-million (USD 91.13m) budget that is co-financed by the European Regional Development Fund (FEDER) to help the potential interested parties to cover part of the investment costs in the future projects. They can also receive help from the Institute for Energy Diversification and Saving (IDAE).
According to the guidelines of the call published in the Official State Gazette in December 25, the winning projects must be up and running before December 31, 2022.
The local government is also looking to implement other calls this year, said Pedro Ortega, Minister of Economy, Industry, Trade and Knowledge.
Overall, this initiative will help the Canary Islands advance in achieving its goal of reaching a 45% share of renewable energies in their energy mix by 2025, the minister stated.
Currently, the islands have a total wind capacity of 417.6 MW, enough to meet the annual consumption of 368,470 households, or cover 46% of the total in the Archipelago, the government noted.
(EUR 1 = USD 1.14)