Port of spain discharge storage subsidy

How are pumped storage hydro projects funded in Spain?

The programmes are funded through Spain's coronavirus recovery facility. The Institute for Diversification and Energy Saving (IDAE), the agency of the ministry for the ecological transition, will manage the tendering process. Applications for funding for pumped storage hydro project can be sent from September 22 until October 20, 2023.

Why are battery storage options more suitable in Spain?

As a result, shorter duration storage options like batteries are more suitable in Spain. In Spain, over 50% of excess renewable energy occurs in periods where there is continuous excess for less than 12 hours i.e. a battery that chooses to charge on this energy would be able to discharge within 12 hours.

How much does a LCoH cost in Spain?

This is comparable with the 67 €/MWh LCOH for the TES with retail charges. In Spain, subsidies for storage will be granted through four calls under the PERTE ERHA1 scheme. The PERTE ERHA includes storage, renewables and hydrogen and it is funded by the European Union

How much money can a hybrid energy storage project get?

Each project can secure up to €15 million ($15.68 million) in funding. From pv magazine Spain The Spanish government has announced a funding scheme for hybrid energy storage projects that generate electricity from renewable sources.

When can I apply for funding for pumped storage hydro project?

Applications for funding for pumped storage hydro project can be sent from September 22 until October 20, 2023. Submissions for standalone and thermal storage initiatives will be accepted from September 20 until October 18, 2023.

Will Spain open up a new market for batteries?

As regulation evolves, we expect the Spanish government to open up with highly attractive new markets for batteries, such as Capacity Market, Contracts for Difference or Fast reserve, which could provide a higher degree of contracted revenues.