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Spain. a strategic project for renewable energy sources, green hydrogen and energy storage

The Spanish Council of Ministers has announced the approval of the third PERTE (strategic project for economic recovery and transformation) devoted to renewable energy sources, green hydrogen and energy storage, also known as PERTE ERHA.

From the financial standpoint, the project aims to invest about 16.3 billion euro, of which more than 6.9 would consist of public funding and almost 9.5 from private sources. The development of hydrogen will require a little over 1.5 billion (1,555 million euro in public funding, which should catalyze, according to forecasts, another 2.8 billion in private capital.) The projects will be subsidized with regard to heavy transport (ships, trains, trucks and buses) and large electrolyzers. In the renewable energy sector, it is expected that 765 million euro in public funding will be allocated and that it will be possible to channel another 1.6 billion through private financing, with particular attention to marine wind farms. Among the measures planned are the phasing out of aerogenerators and the development of biogas from agricultural activities or waste processing. In the sector of electrical infrastructures, the promotion of intelligent networks and energy storage will use 620 million euro in public funding and should, in turn stimulate private investments for 990 million euro. On the operating plane, the first calls for bids will go out shortly, for a total value of about 500 million euro.