October 17 (Renewables Now) – The Institute for Diversification and Saving of Energy (IDAE), a Spanish government agency, announced on Wednesday that 326 MW of solar projects qualified to receive funds under the 1st SOLBAL programme, a EUR-40-million (USD 44.3m) subsidy scheme directed at boosting the photovoltaic (PV) capacity on the Balearic Islands.
The funds will be distributed between 55 schemes that were given the green light for installation across the islands of Mallorca, Menorca, Ibiza and Formentera. The amount covers 15.3% of the EUR-260.5-million investment required for the approved projects.
The SOLBAL budget is co-financed by the European Regional Development Fund (ERDF).
More details on the approved schemes in the table below:
|Isle||Number of projects||Capacity||Total investment (in million)|
|Mallorca||46||256.36 MW||EUR 206.1|
|Menorca||6||61.81 MW||EUR 47.7|
|Ibiza||2||6.2 MW||EUR 5.1|
|Formentera||1||1.9 MW||EUR 1.6|
All projects have to be finalised by 2022. Once the parks are online, they will lift the solar share in the whole of the Balearic Islands to 10% from 2.5%.
According to IDAE, the majority of the solar parks will be built as a distributed generation (DG) scheme as their capacity is below 5 MW. The agency said in July that developers of parks with capacities below 10 MW can receive aid for up to 30% of the project budget. Larger parks, of 10 MW and above, can expect subsidy to cover 20% of the budget.
(EUR 1 = USD 1.108)