Spain will finalize the allocation of €670 million under its Recovery, Transformation and Resilience Plan. Within this package, EUR 165 million will support seven pumped hydro storage projects under the Boralmac II programme, adding more than 4.2 GW / 8 GWh of capacity in five regions.
By pv magazine
The Spanish Vice President and Minister of Ecological Transition and Demographic Challenge, Sara Aagesenannounced that the provisional allocation of €670 million ($788.6 million) under the country’s Recovery, Transformation and Resilience Plan (PRTR) would be finalized in the coming days.
As part of that package, reversible pumped hydropower storage projects will receive €165 million in support through the Boralmac II programme. The second round of funding expanded the initial budget in response to strong demand and will support seven projects in Galicia, Asturias, Andalusia, Extremadura and Catalonia, representing over 4.2 GW of installed capacity and over 8 GWh of combined storage capacity.
Selected projects include the 440 MW/3,520 MWh Meirama facility in A Coruña, which will receive €30 million in financing. Developed by Coventina Renovablesthe project was previously selected in the preliminary resolution of the competitive tender for the Meirama “Just Transition” network node. The tender aims to grant grid access rights to sustainable energy projects that maximize local socio-economic benefits in the municipalities of Carral, Cerceda, A Laracha, Ordes and Tordoia, where a former Naturgy thermal power plant was located.
In Granada, the 357 MW/2,969 MWh Los Guájares project will receive 23 million euros. Promoted by Villar MirThe project received a favorable environmental impact assessment in August 2025 and is expected to require an investment of approximately €400 million.
The Torreal II project in Cáceres, with a capacity of 33 MW/991 MWh, has secured €5 million in financing. The project is being developed by Iberdrola, which obtained a favorable environmental impact statement for the Alcántara II reversible hydroelectric power plant in 2024. The project also received €44.9 million in support from the Institute for Energy Diversification and Conservation after it was ranked as the strongest proposal in terms of economic viability and possibilities for sustainable integration. It has already secured access rights to the electricity grid and is awaiting preliminary administrative approval.
Meanwhile, the 215 MW/8,995 MWh Belesar III project in Lugo will receive 48 million euros. The facility is being developed by Naturgy and has an estimated budget of €200 million.
Barcelona’s La Baells reversible hydropower project, with a capacity of 545 MW/4,290 MWh, has secured €6 million in financing. The project is being developed by Verbund and Capital Energy and is expected to require an investment of approximately €400 million.
In Asturias, the 247 MW/3,810 MWh Grandas de Salime project will receive 45 million euros. Developed by Magtelthe project has an estimated budget of €210 million. The company recently won the tender to access the Narcea network node to connect the planned La Barca pumped hydro project in Tineo.
The La Barca project itself, also located in Asturias, has a capacity of 354 MW/4,739 MWh and was awarded 7.9 million euros under the Boralmac II financing round.
This content is copyrighted and may not be reused. If you would like to collaborate with us and reuse some of our content, please contact: editors@pv-magazine.com.
