EC's NER 300 backs 51 MW of floating wind projects off Spain
Jul 9, 2014 - Two floating wind projects in Spain totaling 51 MW will split up to EUR 67.4 million (USD 92m) in funding granted by the European Commission (EC), as unveiled by the latter yesterday.
More specifically, the EC is awarding up to EUR 33.4 million in financing for the 26-MW Balea wind project in the Bay of Biscay off the coast of Armintza. This scheme comprises two 5-MW and two 8-MW turbines on floating foundations. They will use either a tension leg platform or a semi-submersible structure.
The other winner, namely the FloCan5 project, is receiving a maximum of EUR 34 million from the EC. This scheme will include five 5-MW turbines with floating moored foundations off the southeastern coast of the Gran Canaria island.
The commission is providing total of EUR 1 billion in financing to 19 green energy, smart grid and carbon capture and storage (CCS) projects under round two of the NER300 programme. The grants will be funded with proceeds from the sale of emission allowances under the European Union (EU) Emissions Trading System.