Spain has awarded €165 million to seven pumped hydro storage projects totalling around 2.1GW/21GWh, while Portugal has set a target of 1.4GW of new pumped hydro capacity by 2040.

The Spanish government has awarded €165 million ($188.4 million) to seven reversible pumped hydro projects that will add more than 21 GWh of storage capacity across six regions.

Spain's ministry for the ecological transition has awarded EUR 165 million (USD 188.3) in grants to seven pumped-storage hydropower projects under a dedicated competitive…