Malta Iberia to Develop 100MW Thermal Energy Storage Facility in Spain

Strategic Insights -

Malta Iberia, a European affiliate of Malta Inc., has been granted a significant project development assistance agreement to build a 100MW thermal energy storage facility in Spain. This facility will provide 1,000MWh of clean energy using a novel combination of pumped heat technology and molten salt. The project, called Sun2Store, aims to provide efficient, reliable, and dispatchable renewable energy.

Key Takeaways:

  • Malta Iberia has been granted a Project Development Assistance Agreement from the European Union and the European Investment Bank to develop a 100MW energy storage facility in Spain.
  • The Sun2Store project will use pumped heat technology with molten salt to provide 100MW of thermal energy storage at a ten-hour duration, resulting in 1,000MWh of clean energy.
  • Malta Iberia is partnering with Alfa Laval for heat exchangers and Siemens Energy for the project's turbomachinery.
  • The European Investment Bank will provide tailor-made technical assistance and conduct an independent technology assessment to verify key technical parameters of the storage facility.
  • Malta's Sun2Store project was selected as one of the 15 projects out of over 300 applications eligible for Project Development Assistance from the European Innovation Fund.
  • The storage solution would be the first of its kind in Europe, combining pumped heat technology with molten salt to provide efficient, reliable, and dispatchable renewable energy.
  • The facility is expected to provide timely, high-impact reductions in greenhouse gas emissions, as Malta's technology is easily scalable.
  • The European Union and the European Investment Bank are supporting Malta Iberia through the Project Development Assistance Agreement to accelerate the development of the Sun2Store project.

Statistics:

  • 100MW: The capacity of the energy storage facility.
  • 10 hours: The duration of the thermal energy storage by the Sun2Store project.
  • 1,000MWh: The total clean energy provided by the Sun2Store project.
  • 100MW: The power capacity of the thermal energy storage facility.
  • 300: The number of applications received for the European Innovation Fund's Project Development Assistance.
  • 15: The number of projects selected for Project Development Assistance from the European Innovation Fund.

Sources:

  • European Union
  • European Investment Bank
  • Malta Iberia S.L.U.
  • Sun2Store project
  • Alfa Laval
  • Siemens Energy