Spain okays allocation of EUR 181m for renewables support

The Spanish Institute for Diversification and Saving of Energy (IDAE) has approved the allocation of EUR 181 million (USD 214m) to support renewables-based projects.

The subsidy is part of a EUR-316-million package the ministry for ecological transition (MITECO) will inject into the domestic renewable energy sector through competitive calls.

According to the government, the funds will finance the construction of solar photovoltaic (PV), wind, biomass and renewable gases facilities, including green hydrogen projects. Thermal energy schemes, such as geothermal, renewable gas or concentrating solar power (CSP), will also benefit from the aid.

This initial disbursement will be allocated to the regions of Andalusia, Principality of Asturias, Castila-La Mancha, Catalonia, Extremadura, Madrid and Murcia.

In addition to this package, the ministry also expects a further private investment of about EUR 551 million. Overall, MITECO estimates the projects resulting from this programme to be able to offset 712,000 tonnes of carbon dioxide equivalent (MtCO2e) annually.

MITECO said this aid will also support the increase of renewable energy use in the agricultural-food sector and its related industries as well as the industrial and service segments.

(EUR 1 = USD 1.183)

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