Spain Backs Tenerife Pumped-Hydro Plant
The Spanish Government is backing a €1 billion pumped-hydro storage plant in Güímar, Tenerife, a key project for the Canary Islands' carbon-free energy transition and grid stability.
Islands have historically relied on fossil fuels for their electricity and face unique challenges due to their isolation. A key part of their plan to become carbon-free is to bring more renewable energy into their power systems.
Pumped-hydro storage power plants are a crucial technology in this effort. They help manage the inconsistent supply of green energy and keep the power grid stable.
On Thursday, Ángel Víctor Torres, the Minister of Territorial Policy and Democratic Memory, announced that the Spanish Government, through its Ministry for Ecological Transition (MITECO), will support building one of these pumped-hydro plants in Güímar, on the island of Tenerife.
This project is vital for making the Canary Islands carbon-free. It will allow more clean energy to be used and reduce the need for traditional power plants. The expected benefits include a significant drop in carbon dioxide emissions, lower electricity bills, and a more secure energy supply.
The plant is expected to last over 75 years and will cost about 1 billion euros. Once it's operational, it's projected to save 200 million euros each year. There are also plans for the complex to be expanded in the future.