Spain launches €700 million support scheme for Energy Storage
Image: MITECO
Spain's Ministry for Ecological Transition and the Demographic Challenge (MITECO) has officially launched a €700 million (approx. $800 million) energy storage subsidy program targeting 2.5-3.5GW of new capacity nationwide to enhance grid resilience. Having secured provisional approval under the EU's Temporary Crisis and Transition Framework (TCTF) in March 2025, the scheme will accept applications for its first funding round until July 15, 2025.
The funding supports standalone battery storage (BESS), pumped hydro storage (PHES), thermal energy storage, and hybrid renewable energy systems with storage.
The scheme features the following subsidies and requirements:
- €250 per kWh for BESS
- €300 per kWh for grid-forming BESS
- €300 per kWh for thermal energy storage
- €1,500 per kW (kilowatt) for new PHES projects
- €1,000 per kW for existing PHES projects
Projects will need to be built within 36 months of being granted the aid, with a final commercial operation date no later than 31 December, 2029.
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