Iberdrola granted ERDF monies for energy storage

Iberdrola España, the Group’s subsidiary in the country, was granted more than €170M to build storage, battery and pumping projects from the first call for grants for innovative energy storage projects co-financed with ERDF funds for 2021–2027, awarded by the Spanish Institute for Energy Diversification and Saving (IDAE).

The company will allocate €130M to co-finance 11 BESS (Battery Energy Storage System), €22M to three industrial thermal storage projects and €18M to expand the capacity of a pumping project. 

Iberdrola drives efficient energy storage as one of the key levers to achieve electrification. It is committed to large-scale storage through pumped hydroelectric power stations and small-scale storage through Battery Energy Storage Systems (BESS).

You can read the full story at the Iberdrola España Press Room.