The European Commission has authorized a 3.1 billion euro Spanish state aid program to promote electricity generation from highly efficient power plants.
As per Reuters, the scheme targets new or significantly upgraded combined heat and power (CHP) projects using natural gas, bioliquids, biogas, and solid biomass, with an emphasis on sustainability and innovation. Natural gas plants are required to incorporate equipment allowing at least 10% renewable hydrogen to reduce reliance on fossil fuels.
This initiative aligns with the EU's broader climate objectives, including cutting net greenhouse gas emissions by 55% by 2030 and reaching climate neutrality by 2050. The Spanish program will operate for a decade, offering financial support to CHP operators through remuneration premiums designed to offset both investment and operational costs, which will be recalculated quarterly...