IDAE publishes list of geothermal projects for subsidy in Spain, Canary Islands

Volcanic area at Mount Teide, Tenerife, Canary Islands (source: flickr/ Mike Beales, creative commons)

The Institute for Energy Diversification and Saving (IDAE) has published a list of the accepted proposals for deep geothermal projects that may qualified to receive subsidy aid. This is the result of the funding aid of 120 EUR million announced by the Ministry for the Ecological Transition and the Demographic Challenge (MITECO) of the Government of Spain back in June 2023.

Of the 14 accepted proposals, 11 are from the Canary Islands broken down as follows:

• 6 in La Palma (EUR 47.6 million)
• 4 in Tenerife (EUR 41 million)
• 1 in Gran Canaria (EUR 13.3 million)

The remaining 3 are in Madrid (EUR 5.03 million), Andalucia (EUR 6.95 milllion), and Melilla (EUR 6.08 million).

The call for aid seeks to facilitate the conduct of feasibility studies to evaluate the potential of the different geothermal sites as a preliminary step to determining whether the sites can be developed, and the resources that will be needed for their exploitation. The proposals were selected based on a technical and economic criteria, as well as the socioeconomic impact of the potential projects.

The aid will be granted on a non-refundable basis and the IDAE may advance it to the beneficiaries to facilitate the financing of the projects. The subsidized projects must be completed by 30 June 2026 at the latest.

Source: IDAE and El Periodico dela Energia