President of Spain, Pedro Sánchez
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Spain President Sanchez Commits 500 Million Euros To Renewable Hydrogen

Sánchez presents the PERTE for Renewable Energies, Renewable Hydrogen and Storage that will mobilize 16.37 billion euros

President of Spain, Pedro Sánchez has presented the Strategic Project for the Recovery and Economic Transformation (PERTE) of Renewable Energies, Renewable Hydrogen and Storage. This third PERTE will decisively promote “an energy transition designed and manufactured in Spain”.

At an event at the Ministry of Ecological Transition and Demographic Challenge, which was also attended by the Third Vice-President of the Government, Teresa Ribera, Sánchez explained that this PERTE will mobilise resources worth 16.37 billion euros, of which 6.92 billion euros will come from the Recovery, Transformation and Resilience Plan and more than 9.45 billion euros from the private sector, with the aim of modernising the national production model around the energy transition.

President Sánchez stressed that this “country project” will result in the creation of “hundreds of thousands of jobs”, with “a positive impact on all territories, especially those affected by the demographic challenge”.

This Plan will have four very clear beneficial effects, such as the reduction of Spain’s foreign energy dependence, the boosting of its industrial potential, the creation of quality employment and new business models. Employment that will largely be local, the President of the Government of Spain pointed out and will enable the challenge of depopulation to be met.

President of Spain, Pedro Sánchez

“The fourth benefit is that it will enable citizens, SMEs and administrations to stop being just consumers and also generate store, manage or share their own energy, with the promotion of solutions such as self-consumption or energy communities”, he added.

Sánchez stressed that Spain wants to consolidate the national energy value chain and provide it with greater autonomy to tackle the energy transition. “Not with imported solutions, but with technological and industrial capabilities, knowledge and our own Spanish business model,” he said.

Commitment to public-private partnerships

Pedro Sánchez referred to the need to “strengthen the public-private partnership between companies and the general state administration” in order to consolidate the path of economic recovery. With regard to the breakdown of investment, there will be the first block of measures distributed in 25 specific instruments, which will mobilise 3.558 billion euros from the Ministry of Ecological Transition and 5.39 billion euros of private investment.

The second block of action will consist of 17 facilitating measures amounting to more than 3.3 billion euros that contribute to achieving the objectives of generating the necessary training, technological and professional environment or that stimulate the demand for products and solutions benefiting from this PERTE. These measures will have an additional public budget of 3.362 billion euros, which will allow for the private investment of more than 4.06 billion euros.

Imminent mobilization of the first 500 million euros

Sánchezannounced the four initial instruments of this PERTE, to be published imminently, which will mobilise the first 500 million euros. Thus, a first call will be launched, with 250 million euros to boost R&D and the value chain associated with renewable hydrogen: for new test or manufacturing lines for hydrogen components, for prototypes of new hydrogen-powered vehicles or demonstrators of large electrolysers to produce renewable hydrogen on a large scale.

There will also be a second call for 150 million euros for pioneering renewable hydrogen projects. The remaining 100 million will go to two other calls for aid: one for R&D projects in the field of energy storage, and the other to promote pilot projects for energy communities that are linked to social innovation and citizen participation in the generation of renewables, energy efficiency or electric mobility.

New Social Economy PERTE

At the event, President Sánchez also announced that the Government will approve new Strategic Projects and, in particular, a forthcoming “Social Economy PERTE, focused on the care economy”. “We will not only boost our country’s economy, but we will do so by transforming it, by making it a better country,” he added.

Sánchez concluded by stating that, thanks to the PERTE for Renewable Energies, Renewable Hydrogen and Storage, “the economic, employment, industrial, technological and social opportunities” offered by the energy transition will be taken advantage of.

“What we have presented today will accelerate our path towards the energy revolution that is already part of our present. A revolution that is going to be designed and manufactured in Spain and by Spain”, he defended.

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