The government finalizes its proposal Updating the National Integrated Energy and Climate Plan (PNIEC)The country’s green roadmap to 2030 to make its targets for large-scale deployment of clean energy and emissions reductions more ambitious. And it aims to pave the way for these renewed goals and accelerate the energy transition. 36,600 million euros european funds In addition It has been collected in the annex of the Recovery, Transformation and Resilience Plan (PRTR), which was approved this week by the Council of Ministers.
The current Executive should submit a draft to the European Commission with the expansion of the green ‘megaplan’ this month. However, it will be the new government emerging from the January 23 general election that will be responsible for designing the final version of the PNIEC update, which must be approved before 30 June 2024. An extra injection of millionaires is expected to facilitate targets for the economy to decarbonize, according to surveys.
The appendix to the Recovery Plan is a Second round of 94.3 billion euros of European funds on new non-refundable transfers (10,300) and loans to be repaid (84,000 million), it will be added to the 70,000 million subsidies granted by the EU to Spain in the first phase. In total, around 160,000 million euros to carry out investments and structural reforms by 2026. In the extra funding injection requested from Spain, the Government of Pedro Sánchez aims to play a clear role in supporting the ecological transition.
The proposal to expand the Recovery Plan, which was sent to the European Commission this Wednesday, envisions more than 36,600 million additions for investment programs and reforms linked to decarbonisation and green energy. A focused injection Extra contribution of 10,064 million euros to strategic projects for economic recovery and transformation (PERTE) green – total and until it reaches 2Another 6,564 million allocated to financing lines With public support from the ICO and tax incentives for investments in green projects.
make PERTE fat
The executive has conveyed to Brussels the intention of PERTEs to improve the budget allocation for renewable energies, renewable hydrogen and storage (almost 5,500 million more), electric and connected vehicles (1,250 million more), the decarbonization industry (2,720 million extra) and the circular economy. (600 million more). In total, green PERTE will reach a joint budget of approximately $20,200 million with the additional allocation now approved.
In line with this, the Government has committed a 15,500 million ICO guarantee line to increase available funding for the green transition, and a 2,250 million fund to facilitate tax incentives to encourage green investment by households.
Throughout the supplementary document sent to Brussels, different investment programs and reforms linked to the promotion of the green transition are included in the various areas (components) of the Improvement Plan without going into too much detail. These are measures for deployment and integration. renewableintroduction self consumption and storage empowerment and digitization of electricity electrical networksa roadmap for green hydrogen, protection measures for vulnerable consumers (including the newly regulated electricity tariff, which is less exposed to daily market fluctuations, but the Government has still not made clear whether it will be approved before 23 January) or increased programs for fair transition.
new NECP
Spain already has a green transition roadmap and intermediate targets for 2030 National Integrated Energy and Climate Plan with the ultimate goal of increasing the weight of renewable energies and reaching 2050 with full decarbonisation and an emissions-free economy as proven by climate change law. The mandate from the European funding of the Recovery Plan, one of the pillars of which is the energy transition, should serve as an impetus for this path to decarbonisation.
The central government will accelerate the European Union’s goals of renewable energies, as well as green hydrogen or biomethane distribution, and – as is already doing the current framework – for the future use of fossil fuels and nuclear energy.
The executive should send its proposal for a new version of the green megaplan to Brussels before 30 June, after recently initiating a new public consultation process, and the European Commission should approve the final text before July 2024. The current version of the Spanish PNIEC envisions the commissioning of around 60,000 megawatts (MW) of new renewable energy capacity by 2030, which has been definitively approved in 2021 and sets targets for the electricity generation mix, as well as for renewable gases (both hydrogen and biomethane) and storage capacity. It sets very modest goals. .