Spanish govt to allocate EUR 316m to support renewables

The Spanish ministry for ecological transition (MITECO) will allocate, over the next few months, EUR 316 million (USD 374.9m) to support renewables-based projects for the production of thermal and electrical energy.

The government said on Tuesday it will distribute EUR 246 million in aid for renewable energy projects through competitive calls. In addition to these, there will be specific calls for the Balearic and the Canary Islands, for EUR 20 million and EUR 54 million, respectively.

The government intends to allocate the money for green thermal projects, such as renewable gas or concentrating solar power (CSP), as well as wind or photovoltaic (PV) projects which may include storage systems.

The amount per project will be determined in each of the competitive processes. The European Regional Development Fund (ERDF) will be a co-financier.

Among the criteria for awarding winners, the government will take into consideration several points, including the location, job creation potential, rural development, the innovative nature of the projects and the type of end-use.

MITECO said this aid for renewables will also support the Just Transition in coal regions and the recovery after the COVID-19 pandemic.

(EUR 1 = USD 1.186)

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