Spain approves construction of about 300 renewable projects worth $18.4 billion
On Monday, the Spanish government announced it has approved nearly 300 renewable power projects with a combined capacity of over 28 gigawatts.
These projects, involving mainly photovoltaic power plants, 43 wind farms, and one hydropower plant, represent an investment of more than 17 billion euros ($18.4 billion).
By 2030, Spain aims to increase its share of renewable electricity to 81%, up from around 50% today, by harnessing its sunny plains, windy hills, and fast-flowing rivers.
Also read: Spain’s Zelestra secures additional €225 million for clean energy projects
Earlier this month, Spanish Prime Minister Pedro Sanchez announced a new 2.3 billion euro ($2.5 billion) plan to accelerate Spain’s shift to clean energy.
The plan includes subsidies for green energy sectors and renewable-powered hydrogen.
During his speech to the lower house, Sanchez highlighted measures to support agriculture, infrastructure, and rural communities in adopting green energy solutions.
In July, Madrid approved a 794 million euro subsidy package for large green hydrogen projects, which could have a total electrolysis capacity of 652 megawatts.
Also read: Battery storage firm initiates strategic expansion into Spain
Spain has established itself as a leader in renewable energy in Europe, capitalizing on its abundant sunshine and strong winds.
As the country continues to set records in renewable energy production, it is now aiming to become a major producer of green hydrogen generated from renewable electricity.
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