Archive · 28 Jan 2026
EU Approves Spain's $3.4B Green Power Aid
The European Union has given the green light to a 3.1 billion euro plan by Spain to support power plants that are very efficient.
These plants can use natural gas, bioliquids, biogas, and solid biomass.
The goal is to reduce greenhouse gas emissions by at least 55% by 2030 and achieve climate neutrality by 2050.
The power plants must be able to use at least 10% renewable hydrogen to help reduce reliance on fossil fuels.
The plan will run for 10 years and will provide financial support to operators of these plants to help cover their costs and investments.
EU approves Spain's 3.1 billion euro ($3.4 billion) state aid for efficient power plants.
Funding supports new or refurbished combined heat and power (CHP) plants using natural gas, bioliquids, biogas, and solid biomass.
Projects must include equipment for at least 10% renewable hydrogen use to reduce fossil fuel reliance.
Scheme runs for 10 years and is open to high-efficiency cogeneration plants under EU's Energy Efficiency Directive.
Aid granted as a remuneration premium to compensate for investments and operating costs.
- Who
- European Commission, Spain
- What
- Approval of 3.1 billion euro state aid for efficient power plants
- When
- January 28, 2024
- Where
- Spain, European Union
- Why
- To support high-efficiency power plants and reduce greenhouse gas emissions
- Amount
- 3.1 billion euros ($3.4 billion)
- Duration
- 10 years
- Eligibility
- High-efficiency cogeneration plants
- Renewable Requirement
- At least 10% renewable hydrogen
- EU Targets
- 55% emissions cut by 2030, climate neutrality by 2050