Spain offers $89 mln green energy aid to Balearic, Canary islands

(Reuters, 24 Nov 2020) Decarbonising islands is more difficult due to their isolation from other power systems and relatively small land mass, and the new funding will support solar and wind projects.

Spain will offer 75.1 million euros ($89 million) in state aid for renewable energy projects in the Balearic and Canary islands, the energy ministry said on Tuesday, hoping to smooth a carbon phase-out process.

Mirroring green ambitions across Europe, Spain plans to install 60 gigawatts of renewable capacity by 2030, and hopes to create more than 100,000 jobs annually and reduce energy costs for consumers and businesses in the process.

On Tuesday, ministers approved the launch of invitations to bid for 20.7 million euros ($24.6 million) in funds for solar projects in the Balearic archipelago around Ibiza and Mallorca.

A further 54.4 million euros will be offered to wind energy projects in the volcanic Canary Islands which include Tenerife.

Decarbonising islands is made more difficult by their isolation from other power systems and relatively small land mass. Where 38.6% of power used on the Spanish mainland in 2019 came from renewable sources, this proportion dropped to 16.4% in the Canaries.

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Reuters, 24 Nov 2020: Spain offers $89 mln green energy aid to Balearic, Canary islands