Markets & Policy

Spain secures major EU grant for 1 GW pumped storage project

The European Union is investing €650 million ($766.5 million) in cross-border energy infrastructure, led by a grant for the Aguayo II pumped-storage project in Spain, alongside smaller allocations for upgrades such as the Čierny Váh pumped-storage plant in Slovakia.
Pilar Sánchez Molina
By
Pilar Sánchez Molina
Image: Repsol

From ESS News

The European Commission has awarded nearly €650 million from the Connecting Europe Facility (CEF) to 14 cross-border energy infrastructure projects aimed at strengthening security of supply, boosting renewable energy integration, and improving the interconnection of Europe’s electricity systems. The call for proposals – linked to the first list of Projects of Common Interest (PCIs) and Projects of Mutual Interest – exceeded the initial €600 million budget.

Of the total funding, approximately €470 million has been allocated to six electricity infrastructure projects, including smart grid initiatives.

The largest single grant has been awarded to Spain: €180 million for the Aguayo II project, a pumped-storage hydroelectric plant designed to increase energy storage capacity and support renewable energy integration.

To continue reading, please visit our ESS News website. 

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: [email protected].

Written by

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: [email protected].

Comments