Call for applicants to Spain''s €700m large-scale
Friday saw the publication of a call for applications for energy storage projects hoping to receive support from a €700 million ($794
The market energy storage in Spain, particularly in relation to the BESS systems (Battery Energy Storage Systems), is undergoing a dynamic and accelerated evolution. This transformation is driven by the growing need to integrate renewable energy sources into the electricity grid, improve supply stability and optimize energy use.
Energy storage systems in Spain are a key element in the fight against climate change, as they help us to address the challenge of the energy transition. These systems make renewable energy production more flexible; and therefore help us to guarantee its integration into the Spanish electricity system.
This will include battery and pumped hydro plants, as well as potentially some thermal storage associated with concentrated solar power technology, which Spain is a leader in. The Spanish government is also looking to create an energy storage value chain within a €1 billion investment program.
However, the market could also provide a valuable support mechanism for energy storage. Pumped hydro storage already plays an important role in helping to balance large amounts of renewable energy on the Spanish grid, which as of April 2024 was operating with between 60% and 70% renewable energy penetration.
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