Government supports innovative and cutting-edge initiatives to accelerate the energy transition in the Canary Islands
MITECO allocates 25 million euros from the Canary Islands Sustainable Strategy to support these projects.
Until April 16, 2022, initiatives can be submitted to the Expression of Interest for unique projects with innovative technologies or new business models.
It is part of the Sustainable Energy Plan for the Canary Islands, endowed with 466 million euros from the Government’s Recovery, Transformation and Resilience Plan.
The Ministry for Energy Transition and the Demographic Challenge (MITECO) is looking for innovative and cutting-edge initiatives that accelerate the energy transition in the Canary Islands, remove the barriers that hinder the penetration of renewable energies in the islands and allow a response to the needs of the island’s energy system. To this end, it has opened an Expression of Interest, available hereto receive proposals, as announced by Teresa Ribera, Vice-President of the Government and Minister for Ecological Transition and the Demographic Challenge at the presentation of the Sustainable Energy Plan in the Canary Islands.
The Manifestation is associated with an allocation of 25 million euros from this strategy, aimed at projects proposed by citizens, companies or administrations and investments in start-ups, business financing or equity investment in new initiatives.
The objective is to complete the development and design of actions that involve the definition of new business models in the field of energy, as well as innovative initiatives or unique or multi-technological projects and pilot experiences that have an R+D+i component and are related to innovative energy technologies (storage, renewable hydrogen, geothermal or marine renewable energies).
Participation in this call contributes to providing a broader and more pluralistic vision so that the design of the lines of action can take into account the diversity and characteristics of the possible projects and lines of action. Thus, the information gathered will make it possible to define strategic lines of action, which will be specified in the financing and support mechanisms.
In any case, participation in this Expression of Interest is not a prerequisite or condition for access to future grants or any other means of support that may be called by the Administration. Likewise, failure to submit an expression of interest shall not limit the possibility of submitting proposals in a future call for proposals.
467 million euros for energy in the Canary Islands
The widespread use of renewables as a means to decarbonize the economy entails the need to promote research and development (R&D). For this reason, the MITECO has opened to public participation this Manifestation of Interest exclusively for the Canary Islands, within the Sustainable Energy Strategy that the Government of Spain and the Government of the Canary Islands jointly presented on February 16.
The Strategy, endowed with almost 467 million euros from the Recovery, Transformation and Resilience Plan (PRTR) for the implementation of the Next Generation EU funds, opens an extraordinary opportunity for the Canary Islands and will allow not only the overcoming of the crisis and the recovery of employment, but also the modernization of its economy so that this recovery is green, digital, inclusive and social.
The Expression of Interest falls under program 6 of the aforementioned Plan for the Canary Islands, which provides for the promotion of innovative or unique actions, as well as the possibility of mobilizing investments in companies, new business models or initiatives aimed at the energy transition.
Source: IDAE
