Spain to invest $215 million for the development of renewable energy

Spain will allocate $215 million from public funds for the development of renewable energy sources, according to Ecotown.

According to the Ministry of the Environment, the "green" projects will be implemented in seven regions of the country.

"Spain's plans to reduce carbon dioxide emissions will require about €200 billion ($227 billion) of total investment over the next decade, 47 billion of which will come from the public sector,” predicted Spanish Prime Minister Pedro Sanchez.

Sunshine-rich Spain is a strong supporter of the EU's plans to support low-carbon projects to combat the economic downturn caused by the coronavirus pandemic. Among the projects that can count on financial support are projects for the construction of solar, wind and biogas power plants, as well as the production of hydrogen.

To recap, Spain is preparing for decommissioning coal-fired power plants with a total capacity of 1205 MW.

Tags: contracts, renewable energy, tariffs, solar energy, wind energy, legislation, EU, energy market, Biogas, коронавирус, renewables, negotiations, investments, investors, price, agreement, volumes, power system balance, hydrogen, hydrogen technologies, ecology, decarbonisation, energy sector, quarantine, pandemic, COVID-19, power system, The Ministry of Energy, economy, power grid

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