The Balearic Islands will receive 17.37 million euros from Europe to develop a just transition in the Alcúdia area.

Dec 23, 2022 | Current affairs, Featured, Thursday Daily Bulletin, Tradition

\ The European Commission has approved the Spanish Just Transition Programme, which includes the intervention strategy proposed by the GOIB to move towards a change in the economic model, support decarbonisation and promote sustainability in the Alcúdia just transition zone.

\ It includes the promotion of energy communities, improvements in energy efficiency and the decontamination of the old Alcanada power station.

The European Commission has approved Spain’s Just Transition Programme, which includes the Territorial Just Transition Plan, of which the Alcúdia Tech Mar project forms part, and for which it will receive a total of 17.37 million euros until 2027, 2% of the total budget, which amounts to 868 million.

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The Directorate General of European Funds of the Ministry of European Funds, University and Culture has coordinated the participation of the Balearic Islands in this programme, seeking to optimise the possibilities offered by the Just Transition Fund, a new financing instrument of the Cohesion Policy, which focuses on the challenges of the territories directly affected by the closure of mines and coal-fired power stations.

Of the 17.37 million, a total of 12.6 million is earmarked for the diversification of the productive model in the area and will be channelled through aid from the Vice-Presidency and Regional Ministry for Energy Transition, Productive Sectors and Democratic Memory (11.3 million for the Directorate-General for Energy and Climate Change and 1.5 million for the Directorate-General for Industrial Policy). Also, a total of €700,000 for training and €3.5 million for the decontamination of the Alcanada power plant, owned by the Consell de Mallorca.

In the words of Juan Pedro Yllanes, Vice-President of the Government and Minister for Energy Transition, “the Alcúdia area has been an important economic and employment hub over the last few decades. The arrival of funds aimed at ensuring that a fair, inclusive and participatory transition takes place is essential, not only for the area but also for the whole of the Balearic Islands. This process is an opportunity to diversify the economic fabric of the area towards new sectors that offer stable, quality jobs. Innovative and sustainable sectors that provide added value”.

For his part, the Councillor for European Funds, University and Culture, Miquel Company, stated that “this opportunity will serve to finance actions for the ecological transformation of industry and for economic diversification, the circular economy and energy efficiency; as well as to promote the value chain of renewable energies, self-consumption, energy storage and renewable hydrogen, and in better conditions by applying an EU co-financing rate 10% higher than that applied to the rest of the cohesion funds”.