Spain to offer $215 million in renewable energy subsidies

According to Spain Energy and Environment Ministry, Spain will inject Euro 181 million ($215 million) of state funds into renewable energy projects in seven regions, aiming to boost employment and cut carbon emissions.

The subsidies are part of an investment plan of Euro 316 million that Madrid will invest into innovative projects. Projects that could benefit from the subsidies include those generating power from sun, wind, biomass, and renewable gases including hydrogen in sectors including agriculture, industry and services. The funds unveiled would encourage a further investment of Euro 551 million from the private sector and cut greenhouse gas emissions by 712,000 tonnes of carbon dioxide equivalent each year, as per the ministry.

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