The Institute for the Diversification and Saving of Energy (IDAE) has launched a funding call with a budget of 700 million euros, aimed at promoting energy storage at a critical time for the photovoltaic sector. This initiative is essential given the increasing number of hours during which electricity prices reach zero or negative levels, which has adversely affected the financing of new projects and slowed down the signing of Power Purchase Agreements (PPAs), fundamental to securing investments in renewable energy.
Energy storage positions itself as a key solution to enhance the viability and profitability of solar energy projects, as it allows production to be shifted to times of higher demand and prices. Additionally, it provides supply security and reduces the risk of energy spillovers, critical elements in the current market context.
The call, approved by the European Commission and published in the Official State Gazette (BOE), is part of the corresponding ERDF funds for the 2021-2027 program. Applications can be submitted until July 15, 2025, with the aim of financing between 80 and 120 storage projects, with a total estimated capacity ranging from 2.5 to 3.5 GW.
The funding offered can cover up to 85% of eligible costs, depending on the technology and characteristics of each project. Applicants can seek financing for independent grid-connected storage systems, hydroelectric pump projects, or thermal storage in various forms, as well as hybrid systems with renewable energy installations.
AleaSoft Energy Forecasting notes that this funding call has the potential to reactivate investment in renewable energies, especially in the photovoltaic sector. In an increasingly complex electricity market, storage solutions are essential to optimize operations and maximize revenue, facilitating participation in daily and intraday markets, as well as in other services.
AleaSoft, through its divisions AleaStorage and AleaHub, provides tools and platforms that enable promoters to assess the profitability of storage systems and connect with various stakeholders interested in signing PPAs, hybridizing assets, or accessing financing opportunities, in an environment where collaboration is more crucial than ever.
via: MiMub in Spanish
