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Spain awards €265 million for 49.9 GWh of pumped hydro storage

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Spain awards €265 million for 49.9 GWh of pumped hydro storage

Spain has awarded €265 million ($302 million) to 11 pumped hydro energy storage projects totaling almost 4.1 GW / 49.9 GWh across two rounds of its Boralmac funding program.

The two rounds, resolved between 2024 and 2026, support new pumped hydro facilities as well as projects using existing infrastructure. The projects are spread across seven Spanish autonomous communities and are expected to be completed by 2035.

The first Boralmac round, resolved in July 2024, awarded the full €100 million available to four projects totaling almost 2 GW of turbine capacity and 28.85 GWh of storage.

The largest award, €44.9 million, went to the BOREAL project in Alcántara, Extremadura, for the new José María de Oriol II pumped hydro plant using the existing Alcántara II and Cedillo reservoirs.

Two projects in Castilla y León will make use of drainage water from abandoned mines. The Navaleo pumped hydro project in Torre del Bierzo received €35.3 million, while the Velilla del Río Carrión project in Palencia was awarded €10.7 million.

The fourth project, EcoEbre in Tarragona, received €9.1 million for a closed-loop pumped hydro facility between two reservoirs.

The original completion deadline for Boralmac 1 projects was the end of 2030. An amendment from the Institute for the Diversification and Saving of Energy (IDAE), approved in January 2026, allows the deadline to be extended to Dec. 31, 2035.

Boralmac 2 initially had a €90 million budget, but this was increased to €165 million following 16 applications seeking a combined €440 million in funding.



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