Spain to invest $3.6 B in transmission network
Spanish grid operator Red Eléctrica de España (REE) will support the country’s energy transition with a multi-billion investment spanning over a few years.
Spain: Spanish grid operator Red Eléctrica de España (REE) will support the country’s energy transition with a multi-billion investment spanning over a few years.
The agency said it will deploy over $3.6 B (€3.2 B) between 2018 and 2022 to expand Spain’s high-voltage transmission network, in a bid to prepare for national clean energy targets of 32 % by 2030.
A great amount of the total $1.7 B (€1.5 B) will be earmarked for the integration of renewable capacity through new interconnections and access points, REE explained. This will come alongside $1 B (€908 M) for system reliability and security of supply, $487 M (€434 M) for digitalisation and technological upgrades and $60 M (€54 M) for power control systems.
The multi-billion grid commitments emerge as the government is targeting a fully renewable power system by 2050. Under the roadmap, PV and energy storage capacity should reach a respective 37 GW and 6 GW by 2030.
In parallel to its 2018-2022 commitments, REE is also laying the groundwork of grid upgrades between 2021 and 2026. Until late May, the operator will accept proposals from regional and municipal authorities and energy developers on how the network should be managed over the six-year period.
Source: PV Tech