3.1 billion euros for energy efficiency in Spain - European Commission approves state aid scheme
The European Commission has approved a Spanish state aid scheme of 3.1 billion euros to support electricity production from highly efficient thermal power plants, with the aim of reducing greenhouse gas emissions.
The support will cover new or largely renovated combined heat and power (CHP) plants projects using natural gas, bioliquids, biogas and solid biomass.
Natural gas projects should include equipment that enables the use of at least 10% renewable hydrogen by volume to avoid continued dependence on fossil fuels.
The European Union has current targets to reduce net greenhouse gas emissions by at least 55% by 2030 and to achieve climate neutrality by 2050, and is pushing on a broader scale to reduce final energy consumption to mitigate the effects of climate change.
The Spanish scheme will last 10 years and will be open to operators of CHP installations that meet the definition of high-efficiency cogeneration under the EU Energy Efficiency Directive, the Commission said in a statement.
The Commission added that the aid will be granted as a reward premium to compensate for investments in putting the CHPs into operation and for operating costs calculated and updated quarterly.
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