Madrid s first energy storage project

4 FAQs about Madrid s first energy storage project

Will Madrid become a central base for energy storage systems?

“Our strategy is very clear: to turn Madrid into our central base for energy storage systems. From there, we'll provide agile and specialized support to clients across Europe and Latin America,” Gattoni explained.

Will Spain support new 'electricity storage projects'?

The European Commission said it will support the construction of 1,800MWh of new 'electricity storage projects' while Spain's Ministry for the Ecological Transition and the Demographic Challenge (MITECO) said it would support a total of 2.5-3.5GW of new capacity, in a separate announcement.

Is Spain a good market for energy storage?

Spain has been tipped as an attractive market for energy storage but final investment decisions (FID) have by-and-large not yet been taken, with developers and operators waiting for the business case to firm up and for grid capacity to become available in upcoming auctions.

Can energy storage projects get 85% co-financing?

Standalone and renewables-plus-storage battery projects can apply for up to 85% co-financing, along with pumped hydro and thermal energy storage sites. Friday saw the publication of a call for applications for energy storage projects hoping to receive support from a €700 million ($794 million) EU-funded program in Spain.

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Spain: €699m EU scheme to support 2.5-3.5GW of energy storage

It will be part-financed by the European Regional Development Fund (ERDF). It will take the form of direct grants covering no more than 85% of a project''s capital expenditure,

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