Spain allocates €85 million for renewables and storage on Canary Islands

Facebook
Twitter
LinkedIn
Reddit
Email
MITECO said that the isolated nature of the Canary Islands’ electricity networks allows it to test the use of storage as a tool for integrating storage into a ‘100% decarbonised system’. Image: MITECO

The Spanish Ministry of Ecological Transition (MITECO) has allocated €85 million (US$91 million) to develop 51 renewable energy generation and storage projects on the Canary Islands.

The projects will add 92MW of generation and 186MWh of energy storage capacity across the Canary archipelago, though the majority (30) of the proposed projects will be deployed on Gran Canaria. A total of 11 projects will be deployed on Fuerteventura, eight on Tenerife and two on La Gomera. MITECO did not provide a project-by-project breakdown of the generation technology types, though it said it would ‘promote’ solar PV installations.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Funding will be portioned out from Spain’s Recovery, Transition and Resilience Plan (PERTE), a €163 billion EU-funded scheme to support the renewable energy and digitisation transitions in Spain. MITECO said that the PERTE has a specific fund set aside for sustainable energy investments on Spanish islands, designed to support their relatively isolated energy systems. Renewable energy penetration into the Canaries’ energy systems has been meagre so far, and the islands have mostly relied on fossil fuels for their energy supply.

To this end, the projects will particularly prioritise energy storage deployments at new, repowered or existing power stations. In its announcement, MITECO said that the isolated nature of the Canary Islands’ electricity networks allows it to test the use of storage as a tool for integrating storage into a ‘100% decarbonised system’.

The financial aid will cover between 40% and 75% of the investments into the projects.

In June, Spain was one of a number of EU member states which updated its National Energy and Climate Plan (NECP). In the revised plan, MITECO said that it would target 75GW of deployed solar PV capacity by the end of the decade.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.

Read Next

September 10, 2025
Indian solar module manufacturer Vikram Solar reported a 79.7% year-on-year increase in revenue for the first quarter of FY26.
September 9, 2025
Iberdrola has signed a 77MW power purchase agreement (PPA) with Italian grocery retail group Selex Gruppo Commerciale.
September 9, 2025
Nautilus and Summit Ridge Energy secured major financing deals to expand community solar projects across multiple US states.
September 9, 2025
The US is forecast to reach between US$55-60 billion in clean energy tax credit monetisation in 2025, according to a report from clean energy financing technology platform Crux.
September 9, 2025
The average price of solar modules sold in Europe fell marginally between July and August, while buyers’ confidence remained steady.
September 9, 2025
The US Solar Energy Industries Association (SEIA) has released a policy blueprint which it claims would “strengthen the reliability of America’s electric grid with solar and storage technologies.”

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines