Balearic PV set for boost through €60m in EU-funded subsidies

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
The Balearic PV push comes after the installation of only 1MW between 2012 and 2015 (Credit: Pixabay)

The Balearic PV ecosystem is to be subsidised with a multi-million new programme, meant to help multiply installed capacity by a factor of three within years.  

Up to €60 million (US$68 million) could be made available to PV installations of 100kW or more under the SOLBAL scheme, run by ministerial renewable agency IDAE.

Developers will now have three months to apply for the subsidies, which will come in the form of non-repayable grants from European Regional Development Fund. 

Aid of up to €15m per PV project

The programme will award an initial €40 million batch of aid, with plans to open up a further €20m if the move proves necessary.

The terms of the scheme open the door to large-scale subsidies, with single projects eligible for up to €15 million worth of aid.

To be considered, the PV plants can only begin construction after lodging an application for the subsidies; they must be fully built by the end of 2022. Environmental impact assessments – or in their absence, the availability of a connecting point – are another prerequisite.

Spanish regions unlock millions for PV

Francina Armengol, who heads up the Balearic left-wing government coalition, said the aid programme is “imperative” for the archipelago to fully decarbonise its energy system by 2050.

Some 26 PV plants representing 230MW are currently earmarked for construction across Majorca and the other islands, up from today's count of 36 plants and 71MW. Rooftop installations are too poised for growth, under a new climate law that mandates their roll-out in car parks and buildings.

The Balearic regional government is one of a growing number opting to subsidise renewables coinciding with a supportive central government, following years of regressive policies. As the IDAE recently noted, the archipelago only managed to install 1MW of PV between 2012 and 2015.

See here for more information on the new subsidy scheme

Read Next

June 15, 2021
Everwood Capital and the Prodiel Group have combined to create DVP Solar, a joint-venture (JV) focused on developing large-scale international photovoltaic projects, with gigawatts at various stages of development.
June 10, 2021
Renewables group BayWa r.e. and its Dutch subsidiary GroenLeven have partnered with Netherlands energy network operator Alliander to build a pilot green hydrogen project powered with a 50MWp solar farm.
June 7, 2021
Solar PV power systems contributed to 11.4% of Spain’s power mix last month, setting a new record for monthly production, according to new data from grid operator Red Eléctrica de España.
PV Tech Premium
June 4, 2021
Spain’s PV sector has been boosted by a new auction mechanism that aims to support at least 10GW of capacity by 2025. José Donoso, general director of Spanish solar association UNEF, discusses what is driving growth and the various policies that the industry is asking for.
May 26, 2021
Trade association SolarPower Europe (SPE) has called on the European Union to increase the share of renewables in final energy demand to at least 45% by 2030, a move it says would put the bloc on track to deliver on the 1.5° Paris Agreement scenario.
May 25, 2021
Spanish energy company Iberdrola is working with US power technology distributor Cummins on what the pair claim will be one of the world’s largest green hydrogen facilities in Spain.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 15, 2021
Solar Media Events
July 6, 2021
Solar Media Events
August 24, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021