Clean Recovery: Spain offers EUR 181 million for renewable energy projects

On September 10, 2020, the Spanish authorities announced EUR 181 million in spending on renewable energy projects. The investments are meant to boost a clean economic recovery by creating employment and cutting carbon emissions. The financial support will benefit seven regions across the country; while a majority is earmarked for Andalucía, funding is also provided for projects in Asturias, Castilla-La Mancha, Cataluña, Extremadura, Madrid, and Murcia. The subsidy will go to projects generating power from sunlight, wind, biomass, and renewable gases like hydrogen, with the aim of providing sectors such as agriculture, industry, and services with more renewable energy.

According to the Spanish Institute for the Diversification and Saving of Energy (IDAE), EUR 80 million will be directed toward renewable electricity production and EUR 101 million toward the use of thermal energy. It hopes to attract further investments of EUR 551 from the private sector and reduce carbon emissions by more than 700,000 tonnes each year. The ministry-led agency estimates the capacities of renewable electricity and thermal energy production will rise by 344 MW and 483 MW, respectively.