ERDF

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.

Spain has awarded more than €818 million ($956.3 million) in European Union funding to 126 energy storage projects totaling 2.2 GW of power and 9.4 GWh of capacity.

Spain’s Institute for the Diversification and Saving of Energy confirmed €827 million ($961.4 million) in European Regional Development Fund co-financing for 133 energy-storage projects with a combined capacity of about 2.4 GW and 10 GWh.

The European Commission has outlined a long-anticipated plan it says could unlock up to €340 billion for new solar and wind projects over the next decade. The 30-year strategy envisages up to €470 billion being spent on electrolyzer capacity.

President Ursula von der Leyen has outlined plans to fund her Green Deal with a mix of EU, member state and private sector contributions. Now it is over to individual nations and the European Parliament.

With hundreds of homes and businesses having received solar-plus-storage systems and monitoring equipment, an algorithm is managing a market for flexibility and capacity in Cornwall. Homeowners with storage can place bids to sell energy from their systems to the distribution system owner on an intraday basis.

More than 100 free storage systems will given to residential and commercial users to maximize utilization rates of storage systems while reducing costs for grid operators. The algorithms behind the technology would improve the supply situation and shave peak demand.

The storage system supplier is providing its technology to the Isles of Scilly as part of an ERDF-funded project to meet the remote islands’ energy demands more cheaply and cleanly. Until now islanders used fossil fuels and electricity from mainland Britain at high tariffs, prompting energy poverty for many.