By ESS news
Portugal is trying to promote flexibility and balance its energy system with energy storage, as the country continues to break records in solar energy production. To that end, the country’s Ministry of Energy announced on Wednesday that it has allocated €99.75 million ($107.6 million) in an effort to support 500 MW of energy storage projects.
Eligible projects can receive up to €30 million and can be developed at both transmission and distribution levels by the end of 2025. The funding is allocated through the Environmental Fund and included in the country’s Recovery and Resilience Plan (RRP).
The tender is being launched “in response to the growing need to optimize and manage the electricity grid in a flexible manner, especially in light of the current geopolitical situation and its impact on the energy market,” the ministry said in a statement.
Applications can be submitted until September 2 via the Environmental Fund portal.
The Minister of Environment and Energy, Maria da Graça Carvalho, described the scheme as “a unique opportunity for companies and institutions that want to contribute to a more sustainable and independent energy future in Portugal, and thus be part of the solution to today’s energy challenges. ”
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