en.Wedoany.com Reported - Spain's Ministry for Ecological Transition (MITECO) has allocated over €160 million ($183 million) to support 40 clean energy manufacturing projects, including three solar photovoltaic projects.

The Institute for Energy Diversification and Saving (IDAE), which manages the program, announced the preliminary results of the RENOVAL 2 initiative last week. Unlike the previous edition, where seven solar manufacturing projects received over €210 million in funding last year, none of the solar PV grants in this round went to solar module manufacturing.

The two solar PV projects that received funding are Spanish inverter manufacturer Power Electronics and its subsidiary Power Metal Works, which were awarded €7.6 million and €1.4 million, respectively. Both projects will be located in the eastern Valencia region. The solar inverter and energy storage manufacturer recently announced that its global AC-side installed capacity has reached 170 GW, with a target of adding another 20 GW by the end of the year to reach 190 GW. The third solar manufacturing project to receive funding is UK-based tracking system supplier Cambridge Energy, which was awarded €750,000 for its tracking system manufacturing facility in the southeastern Murcia region.

In addition, 11 energy storage-related manufacturing projects received funding. These include €81 million awarded to Hithium Spain Innovation for the construction of a battery energy storage system and cell factory in the northern Navarra region. This is the highest single-project grant, accounting for approximately half of the total funding in this round.

According to MITECO, the support program aims to consolidate Spain's leadership in clean technology. The ministry claims that Spain already has the manufacturing capacity for "over 60%" of components in the solar value chain. All funded projects will have 48 months to complete the construction covered by the RENOVAL 2 program.

The first phase of the RENOVAL program allocated nearly €300 million, while the second phase saw funding almost halved, despite the Spanish government allocating €355 million for RENOVAL 2 earlier this year. Last year, funding for solar PV manufacturing alone exceeded the total for all technologies in RENOVAL 2, covering nearly the entire supply chain. The funds will be provided through Spain's Recovery and Resilience Plan (PRTR) under the NextGenEU fund, aiming to incentivize the production of equipment and components for technologies such as solar panels, batteries, wind power, and electrolyzers.