Spain Unveils €2 Billion New Energy Investment Plan, Focusing on Solar, Hydrogen, and Energy Storage

Source: TaiyangNews

Spain’s Ministry for Ecological Transition and Demographic Challenge (MITECO) recently announced a new funding plan of approximately €2 billion aimed at strengthening the national industrial value chain and accelerating the energy transition. The plan was unveiled by Spain’s Vice President and MITECO Minister, Sara Aagesen, and focuses on four key areas: industrial value chains, renewable energy integration, electric mobility, and innovative thermal solutions for industrial and residential sectors.

The projects benefiting from this plan will receive extended implementation periods, beyond the previous deadline of August 31, 2026, under Spain’s Recovery, Transformation, and Resilience Plan (RTRF). This new funding package aligns with the European Clean Industrial State Aid Framework, which allows aid allocation until December 31, 2028, and permits disbursement even beyond that date.

Previously, Spain allocated nearly €300 million to 33 value chain projects across 12 autonomous regions, covering solar photovoltaic (PV), wind, heat pumps, electrolysers, and related components, including SUNWAFE’s silicon ingot and wafer manufacturing project. Under the new funding plan, MITECO will provide €300–350 million for manufacturing these components, as well as for industrial technologies related to energy efficiency, grids, and electric arc furnaces. An additional €200 million will be allocated to upgrade port infrastructure to support offshore wind and other renewable technologies, while €300–450 million will be specifically earmarked for renewable hydrogen projects.

In terms of renewable energy integration, the government will launch wind-focused project calls aligned with the National Enhanced Power Supply Roadmap, promoting hybrid development with energy storage, with a budget of €300–350 million. Another €100 million is dedicated to pumped-storage hydropower plants to support storage development. Additionally, new proposals will be solicited for innovative renewable energy and storage integration, including agrivoltaics and floating PV, with a budget of €150–200 million.

Notably, Spain recently issued a Royal Decree aimed at boosting domestic energy storage development, targeting 22.5 GW of storage capacity by 2030.