The Spanish Ministry of Ecological Transition (MITECO) is set to revolutionize the energy landscape of the Canary Islands with a substantial allocation of €85 million (US$91 million).
This funding will drive the development of 51 renewable energy generation and storage projects across the archipelago, encompassing a total capacity of 92MW in generation and 186MWh in energy storage. With a predominant focus on Gran Canaria, these initiatives aim to propel the Canary Islands toward a '100% decarbonized system' by strategically integrating energy storage into their isolated electricity networks.
MITECO, utilizing funds from Spain's Recovery, Transition, and Resilience Plan (PRTR), targets the transformation of the Canary Islands' energy systems. Historically reliant on fossil fuels, the islands will now witness a surge in renewable energy penetration, facilitated by this substantial investment. The projects, spread across Gran Canaria, Fuerteventura, Tenerife, and La Gomera, will prioritize energy storage deployments at power stations, fostering the testing and integration of storage solutions for a sustainable future.
The financial aid, covering 40% to 75% of project investments, underscores Spain's commitment to accelerating the transition to sustainable energy. This strategic move aligns with MITECO's revised National Energy and Climate Plan, targeting 75GW of deployed solar PV capacity by the end of the decade, showcasing Spain's dedication to a greener future.
Source: pv-tech.org