Spain supports 4.2 GW / 8 GWh of pumped-hydro storage with €165 million

<p class="p1"><span class="s1">Spain is set to finalize a €670 million allocation under its Recovery, Transformation and Resilience Plan. Within this package, €165 million will support seven pumped hydro storage projects under the Boralmac II program, adding more than 4.2 GW / 8 GWh of capacity across five regions.</span></p><p><strong>From <a href="https://www.pv-magazine.es/2026/05/08/todos-los-ganadores-de-la-2-a-convocatoria-de-ayudas-para-proyectos-innovadores-de-almacenamiento-mediante-bombeo/" rel="noopener" target="_blank">pv magazine</a></strong></p>
<p>Spain’s Vice-President and Minister for Ecological Transition and the Demographic Challenge, <span class="hover:entity-accent entity-underline inline cursor-pointer align-baseline"><span class="whitespace-normal">Sara Aagesen</span></span>, announced that the provisional allocation of €670 million ($788.6 million) under the country’s Recovery, Transformation and Resilience Plan (PRTR) would be finalized in the coming days.</p>
<p>As part of that package, reversible pumped hydro storage projects will receive €165 million in support through the Boralmac II program. The second funding round expanded the initial budget in response to strong demand and will support seven projects across Galicia, Asturias, Andalusia, Extremadura and Catalonia, representing more than 4.2 GW of installed capacity and over 8 GWh of combined storage capacity.</p>
<p>The selected projects include the 440 MW/3,520 MWh Meirama facility in A Coruña, which will receive €30 million in funding. Developed by <a class="decorated-link cursor-pointer" rel="noopener" target="_new">Coventina Renovables</a>, the project was previously selected in the provisional resolution of the competitive tender for the Meirama “Just Transition” grid node. The tender is designed to award grid access rights to renewable energy projects that maximize local socioeconomic benefits in the municipalities of Carral, Cerceda, A Laracha, Ordes and Tordoia, where a former thermal power plant operated by Naturgy was located.</p>
<p>In Granada, the 357 MW/2,969 MWh Los Guájares project will receive €23 million. Promoted by <a class="decorated-link cursor-pointer" rel="noopener" target="_new">Villar Mir</a>, the project obtained a favorable environmental impact statement in August 2025 and is expected to require investment of around €400 million.</p>
<p>The Torreal II project in Cáceres, with capacity of 33 MW/991 MWh, secured €5 million in funding. The project is being developed by Iberdrola, which in 2024 obtained a favorable environmental impact statement for the Alcántara II reversible pumped hydro plant. The project also received €44.9 million in support last July from the <span class="hover:entity-accent entity-underline inline cursor-pointer align-baseline"><span class="whitespace-normal">Institute for Energy Diversification and Saving</span></span> after being ranked the strongest proposal in terms of economic viability and renewable integration capabilities. It has already secured grid access rights and is awaiting preliminary administrative authorization.</p>
<p>Meanwhile, the 215 MW/8,995 MWh Belesar III project in Lugo will receive €48 million. The facility is being developed by Naturgy and has an estimated budget of €200 million.</p>
<p>The La Baells reversible hydropower project in Barcelona, with capacity of 545 MW/4,290 MWh, secured €6 million in funding. The project is being developed by Verbund and Capital Energy and is expected to require investment of around €400 million.</p>
<p>In Asturias, the 247 MW/3,810 MWh Grandas de Salime project will receive €45 million. Developed by <a class="decorated-link cursor-pointer" rel="noopener" target="_new">Magtel</a>, the project has an estimated budget of €210 million. The company recently won the competitive tender for access to the Narcea grid node to connect its planned La Barca pumped hydro project in Tineo.</p>
<p>The La Barca project itself, also located in Asturias, has capacity of 354 MW/4,739 MWh and was awarded €7.9 million under the Boralmac II funding round.</p>