Subsidy scheme of EUR 40m available to PV projects on Balearic Islands

Solar panels. Featured Image: pornvit_v/Shutterstock.com

April 8 (Renewables Now) - The Institute for Diversification and Saving of Energy (IDAE), a Spanish government agency, launched on Thursday a subsidy programme with a total budget of EUR 40 million (USD 44.9m) to facilitate the installation of solar photovoltaic (PV) parks on the Balearic Islands.

The grants are directed at legal entities interested in installing PV systems of 100 kW and above, according to the IDAE’s announcement published in Spain’s Official State Gazette. Eligible applicants stand to receive a maximum of EUR 15 million per company and project. The European Regional Development Fund (ERDF) will co-finance the programme.  

The Balearic Islands government said Thursday that the subsidies were meant to make smaller PV parks more attractive from economic perspective given that they have to adapt to the islands’ terrain.

Interested parties have three months starting Friday, April 5, to submit their projects proposals.

At present, there are 36 PV parks totalling 71 MW that operate on the Balearic Islands, while 26 solar projects with a combined capacity of 230 MW are undergoing the administrative process. Once these parks become operational, the Islands will have increased the PV capacity to over 300 MW, a far cry from the 1 MW installed between 2012 and 2015. The share of renewables will reach 10% in the entire archipelago and up to 20% on the island of Menorca in 2020.

(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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