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Spain has launched the RENOVAL 2 funding plan, managed by the Institute for Energy Diversification and Saving, to support green energy equipment manufacturing with €355 million. This initiative targets various categories including solar energy, renewable energy (both onshore and offshore), batteries, energy storage systems, heat pumps, geothermal energy, hydrogen energy (electrolyzers and fuel cells), sustainable biogas and biomethane, grid technology, and water turbines.

The funding can facilitate the construction of new factories, capacity expansions, or upgrades to existing production lines. Applications for this funding can be submitted between January 22 and February 25. Spain has a strong foundation in green energy manufacturing, producing a large share of components for wind farms and many photovoltaic modules.