Spain Allocates €85 Million For RE In Canary Islands

MITECO Lends Support To 51 Projects To Install 92 MW Solar & Storage Capacity Under PRTR Framework

Spain Allocates €85 Million For RE In Canary Islands

Solar PV projects are part of 51 renewable energy projects MITECO is supporting at the Canary Islands. (Photo Credit: MITECO, Spain)

  • MITECO has announced €85 million funds from the PRTR to support renewable energy on Canary Islands 
  • To be disbursed through IDEA, it will fund the deployment of 51 renewable energy projects, including solar 
  • Funding will cover between 40% and 75% of total investment of the selected projects 

The Spanish Ministry for the Ecological Transition and the Demographic Challenge (MITECO) will support the installation of 92.4 MW renewable energy and 6 MW green hydrogen projects at Canary Islands. The €84.86 million funding will be provided to ensure security of energy supply on the islands. 

Proceeds from the government will back 51 renewable energy projects. Out of these, 30 will be located in Gran Canaria, 11 in Fuerteventura, 8 in Tenerife and 2 in La Gomera. These projects will expand the archipelago’s storage capacity by 186 MWh. 

MITECO funding, disbursed through the Institute for Energy Diversification and Saving (IDEA), will cover between 40% and 75% of the investment made. 

Deployment of solar PV projects will be encouraged on anthropized surfaces, stated MITECO, but it did not provide individual share of the renewable energy technologies of the projects. 

The government plans to shell out the funding from the country’s €163 billion Recovery, Transformation and Resilience Plan (PRTR) that has a specific budget for the deployment and integration of renewable energies for Spain’s island regions. 

Canary Islands has also made the cut for the European Commission’s 30 renewable islands for 2030 initiative that are being groomed to achieve complete energy independence by 2030. The 30 islands were selected by the commission under a call launched in June 2023. Others in the list come from Croatia, Denmark, Greece, Ireland, Italy, Netherlands and Sweden. 

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews. Anu is our solar news whirlwind. At TaiyangNews she covers everything that is of importance in the world of solar power. --Email: [email protected]

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