State-funded solar push in Balearic Islands attracts offers for 335 MW

View on Banyalbufar, Mallorca. Author: Anna & Michal. License: Creative Commons, Attribution 2.0 Generic.

July 31 (Renewables Now) - Spain’s SOLBAL programme, a EUR-40-million (USD 44.6m) subsidy scheme to support new installations of solar photovoltaic (PV) capacity in the Balearic Islands, has attracted proposals for 335 MW of power.

The Institute for Diversification and Saving of Energy (IDAE), a Spanish government agency and manager of the SOLBAL programme, said Tuesday that a total of 56 proposals were submitted, which exceeds expectations. Initially, the programme called for 240 MW of new capacity under the EUR-40-million budget plan, co-financed by the European Regional Development Fund (ERDF). The proposed projects go over budget by EUR 1 million.

The island of Ibiza stands to see its first two solar parks of the 56 that were proposed. Mallorca has received applications for 47 projects, while the island of Menorca attracted six projects. One park is proposed for Formentera.

Developers of parks with capacities below 10 MW can receive aid for up to 30% of the project budget. Larger parks, of 10 MW and above, can expect subsidy to cover 20% of the budget. The funds can be distributed in advance or after the project is completed.

The winning projects will be known after the summer and have to be finalised by the end of 2022.

(EUR 1.0 = USD 1.12)

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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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