Spain has announced a EUR 296 million funding package to bolster domestic manufacturing of renewable energy technologies, targeting 42 projects under its Strategic Projects for Economic Recovery and Transformation (PERTE) program. The move is part of the country's broader strategy to reduce dependence on foreign imports and accelerate its transition to a green economy.

The funding will support innovations across solar, wind, and hydrogen sectors, including advanced photovoltaic cells, next-generation wind turbine components, and electrolyzers for green hydrogen production. Among the selected projects are initiatives to enhance the efficiency of solar panels and develop lightweight materials for wind turbines, which could significantly lower production costs and improve performance.

"This investment is a critical step toward securing Spain's position as a leader in renewable energy manufacturing," said Teresa Ribera, Spain's Minister for Ecological Transition. "By fostering local innovation, we not only create jobs but also ensure energy security and sustainability."

The PERTE program, launched in 2021, is a cornerstone of Spain's post-pandemic recovery plan, with a total budget of EUR 16.3 billion earmarked for renewable energy and green hydrogen projects. The latest funding round is expected to generate over 3,000 jobs and attract additional private investment in the sector.

Spain aims to derive 74% of its electricity from renewable sources by 2030, up from approximately 46% in 2022. The country is also positioning itself as a key player in Europe's green hydrogen market, with plans to produce 4 GW of electrolyzer capacity by 2030. Analysts suggest that the new funding could help Spain close the gap with manufacturing leaders like China and Germany.

The projects selected for funding will undergo rigorous monitoring to ensure compliance with environmental and efficiency standards. The government has also pledged to streamline permitting processes to fast-track project implementation.