Applications & Installations

Spain opens €90 million funding round for 7 GWh of pumped hydro storage

Spain will provide €90 million ($105.3 million) in funding for nearly 1 GW of pumped hydro projects, adding 7 GWh of long-duration energy storage (LDES) by 2035. Each project will be eligible for a maximum €50 million grant and all work must be completed by June 30, 2035.
Marija Maisch
By
Marija Maisch
Image: Iberdrola

From ESS News

The Spanish Ministry for the Ecological Transition and the Demographic Challenge (MITECO) has approved a second call for grants for innovative pumped hydro energy storage projects, with a total budget of €90 million under the Recovery, Transformation and Resilience Plan (PRTR). The scheme is expected to back nearly 1 GW of projects which will provide around 7 GWh of additional storage capacity to the grid.

The announcement, issued on Jan. 2, follows the first call under the BORALMAC program in September 2023, which attracted strong interest and awarded €100 million in support for four projects totaling over 2 GW of new pumped storage capacity.

It also comes only days after MITECO selected 126 energy storage projects to receive a total of €818.3 million in funding from the European Regional Development Fund (ERDF), primarily for co-located energy storage projects, with standalone batteries receiving the next largest share.

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