Spain announces $1.24 billion incentive scheme for clean-tech manufacturing

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From pv magazine Spain

Spain’s minister of ecological transition, Teresa Ribera, said this week that the government has submitted a new incentive scheme to public consultation. It is designed to support the development of a clean energy technology supply chain in the country.

The authorities have launched the project for the first call for subsidies for energy transition equipment production, with a budget of $1.24 billion (EUR 750 million), said Ribera.

“Let’s consider that it’s not enough just to change the color of the molecules or electrons; the industries that have been abandoned, the services that have been abandoned, are, precisely, the great opportunity to reindustrialize and modernize our productive industry,” she said.

Backed by funds from the Plan for Recovery, Transformation and Resilience (PRTR), the scheme is expected to support the production of equipment and essential components of photovoltaic panels, batteries, wind turbines, heat pumps, and electrolysers.

The Institute for Diversificación y Ahorro de la Energía (IDAE) will manage the funds, which will be implemented under a competitive regime.

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