Commission Greenlights EUR 699 million State Aid Scheme to Foster Transition to Net-Zero Economy in Spain
Today, the European Commission (Commission) has approved a EUR 699 million scheme to advance the transition to a net-zero economy by supporting investments in energy storage facilities in Spain.
The scheme provides direct grants, partially funded by the European Regional Development Fund (ERDF), to support 1,800 MWh of new large-scale energy storage in Spain, enhancing renewable energy integration and reducing fossil fuel dependence. The measure will be accessible to all storage technologies.
The Commission approved the scheme under the State aid Temporary Crisis and Transition Framework (‘TCTF’), finding it necessary, appropriate and proportionate to accelerate the green transition. Moreover, it respects the conditions set out in the TCTF, namely, the aid will be granted through a competitive bidding process open to all technologies no later than 31 December 2025, the financing will not exceed 85% and is limited to the ERDF co-financing rates.
For more information, see the Commission’s PR.