U.K. consultant EY has spelled out investment projects across the EU which would be in line for support from the bloc’s Covid-19 recovery fund.
The A Green Covid-19 Recovery and Resilience Plan for Europe report published by the professional services company outlined up to 2,000 energy, construction, transport, industry and land use investments across the EU’s 27 member states, half of which it is estimated could contribute to job creation and climate change targets and reach financial close within two years if backed by the Next Generation EU recovery fund.
Spain has the third highest number of green investment and economic recovery projects in the EU, according to EY, which highlighted 79 investments which require €24.5 billion. In terms of energy projects specifically, Spain’s 30 trails only France’s 47 in the bloc.
The Spanish facilities which could benefit from Next Generation funding include a PV plant planned by energy company Enagás in León which would generate green hydrogen for export to the Port of Rotterdam. The 150 MW solar project in La Robla would feature a 32 MW electrolyzer, storage sites and other infrastructure for the daily production of 12 tons of hydrogen.
That €266 million project is part of a plan to provide environmentally-friendly jobs in areas affected by decarbonization of the economy. The facility follows the signing of a hydrogen and battery storage innovation agreement between Enagás and Spanish power company Ampere Energy in March. The partners plan to drive the first injection of hydrogen into the Spanish gas network at Enagás’ regasification plant in Cartagena, Murcia, to provide small scale electricity with energy storage support.
The EY list of possible beneficiaries of EU Covid recovery funding includes a 1,585 MW, €1.4 billion solar plant the renewables arm of Italian energy company Enel is planning in Teruel which will be linked to 139 MW of wind generation capacity and a 159.3 MW energy storage system. That facility is intended to replace a 1.1 GW coal-fired power plant operated by Enel business Endesa in the province.
The €300 million, 590 MW Francisco Pizarro photovoltaic plant Spanish utility Iberdrola is building in Cáceres is also on the EU project list compiled by EY.