Aug 12, 2014 - The regional government of Galicia plans to invest EUR 450 million (USD 600.4m) in its biomass sector by 2020 in an attempt to make the most of its forests and reduce its dependence on fossil fuels.
Galicia accounts for 50% of the forests in Spain, with about a third of forest areas being used for industrial needs.
The government now wants to use these biomass resources to reduce by 13.8% the annual consumption of petroleum fuels, La Voz de Galicia said on Sunday, quoting the government's Strategy to Boost Biomass. The move is expected to bring annual savings of EUR 70 million, or EUR 500 million for the seven-year period. This reduction will go along with increase in the consumption of biomass pellets, which at present stands at 233,000 cu m (8.2 million cu ft). The aim is to triple this figure to 692,000 cu m in 2020.
The regional government expects to create 1,000 jobs by the end of 2020 and to reduce annual carbon dioxide (CO2) emission by 246,000 tonnes.