Spain Launches €355 Million Plan to Support Green Energy Equipment Manufacturing

The Spanish government recently launched a funding plan totaling €355 million, aimed at supporting the domestic manufacturing development of green energy and energy-saving technology equipment, including photovoltaics, wind power, battery storage, and hydrogen energy. This funding comes from the EU's "NextGenerationEU" recovery fund and is part of Spain's National Recovery and Resilience Plan.

This funding plan, named RENOVAL 2, is managed by the Institute for Energy Diversification and Saving, under the Spanish Ministry for Ecological Transition. The call for proposals covers multiple categories, including solar energy, onshore and offshore renewable energy, batteries and energy storage systems, heat pumps, geothermal energy, hydrogen energy (electrolyzers and fuel cells), sustainable biogas and biomethane, grid technology, water turbines, and other green energy and energy efficiency equipment. The funds can be used for building new factories, expanding production capacity, or upgrading existing production lines.

Renewables Now reported: "The funding could cover the construction of new plants, capacity expansions, and the adaptation of existing production lines to manufacture related components." The submission deadline for this funding application is from January 22 to February 25 this year.

Spain already has a certain foundation in the green energy manufacturing sector, capable of producing the vast majority of components for wind farms and a significant portion of photovoltaic modules.