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.

Will Spain open up ancillary services to energy storage?

In addition, new markets are in the process of opening up to storage, such as ancillary services.” Last October, Spain’s draft energy storage strategy was published, confirming the target to deploy up to 2.5GW of battery storage capacity and providing means to enable deployment.

What is energy storage in Spain?

It targets large-scale energy storage projects in Spain. It focuses on technologies like standalone battery energy storage systems (BESS), pumped hydro energy storage (PHES), and thermal energy storage. The program supports hybrid projects, which combine storage with renewable energy, such as solar or wind farms.

How will Spain invest in energy storage?

This will include battery and pumped hydro plants, as well as potentially some thermal storage associated with concentrated solar power technology, which Spain is a leader in. The Spanish government is also looking to create an energy storage value chain within a €1 billion investment program.

Why is storage important in Spain's energy auctions?

A source from Spain’s energy and environment ministry told Energy-Storage.news that storage has been included in the auctions as “it is key in the transition process towards an emissions-neutral economy and is essential to guarantee supply security, increase competitiveness and guarantee low prices”.

When will Spain implement the capacity market?

Spain is planning to implement the capacity market across the next two years, given EU approval timelines. But the government is targeting transitional auctions in the meantime to secure capacity into the mid 2020s and test the mechanism.