Endesa's EGPE secures aid, PV capacity in Spain's SOLBAL programme

Author: Capman Green Energy Fund / All rights reserved.

December 2 (Renewables Now) - Enel Green Power Espana (EGPE) has secured a subsidy under the Spanish government-supported SOLBAL programme to install 72.4 MW of solar photovoltaic (PV) capacity in the Balearic Islands.

The renewables developer will invest around EUR 60 million (USD 66.1m) in the new projects, its parent company Endesa SA (BME:ELE) said Monday. The amount of funds that EGPE is entitled to receive from the SOLBAL’s EUR-40-million total aid budget has not been disclosed.

A total of 55 projects for 326 MW qualified to receive the funds in the subsidy scheme that was designed to bring new solar capacity to the four islands in the Balearic archipelago.

All projects have to be finalised by the end of 2022.

The SOLBAL programme was organised by the Spanish government agency, the Institute for Diversification and Saving of Energy (IDAE), and co-financed by the European Regional Development Fund (ERDF).

IDAE last week published the document containing the list of all winning projects. The document is available at the following link: https://sede.idae.gob.es/lang/extras/tramites-servicios/2019/SOLBAL/27_11_2019_SOLBAL_Resolucion_Definitiva.pdf

(EUR 1.0 = USD 1.102)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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