German lithium iron phosphate energy storage investment project

The project, with a total investment of more than €75 million, will benefit from the expertise of Saft, TotalEnergies' battery affiliate, which will supply the project with the latest-generation of electricity storage technology (iShift LFP —lithium-iron-phosphate— containers). [pdf]

Saint Lucia energy storage investment 2 billion project

The Troumassee Solar Farm, expected to be completed by November 2025, is a major component of Saint Lucia’s renewable energy strategy. The project will feature 25 megawatts (MW) of solar photovoltaic (PV) technology along with 50 megawatt-hours (MWh) of battery energy storage. [pdf]

Spanish energy storage investment projects

Spain has launched an ambitious €700 million (around $796 million) program to increase its energy storage capacity. This plan will add 2.5 to 3.5 gigawatts (GW) of storage. It includes pumped hydro, thermal energy storage, and battery systems. [pdf]

FAQS about Spanish energy storage investment projects

What is Spain's energy storage strategy?

Spain’s government has approved an energy storage strategy that it says will put the country “at the forefront” of what is being done in Europe and help it move towards its 2050 climate neutrality target. The roadmap foresees the country ramping up its storage capacity from the current 8.3GW level to 20GW by 2030 and then 30GW by 2050.

Will Spain back energy storage?

A public consultation exercise about the proposed funding program opened on Monday and will close on Friday. Spain already backs energy storage with more than €600 million of NextGenEU funding which was allocated as part of Spain’s, post-Covid Recovery, Transformation, and Resilience Plan.

Will Spain's energy storage sector expand?

The coming years will reveal the answer. Spain’s energy storage sector is set to expand with €699M in funding, supporting up to 3.5GW of capacity. Discover key opportunities and challenges for investors.

Can Spain deploy large-scale energy storage with co-financing of 85%?

The European Commission on Monday greenlit a new aid scheme to enable Spain to deploy large-scale energy storage with co-financing of up to 85%. The European Commission on Monday approved a new aid scheme for the deployment of large-scale electricity storage in Spain.

How many energy storage projects will be financed by MITECO?

MITECO anticipates 80 to 120 energy storage projects will be financed by the scheme before 2030 and will have a total project capacity of 2.5 GW to 3.5 GW. A public consultation exercise about the proposed funding program opened on Monday and will close on Friday.