The Council of Ministers, meeting this Tuesday, has approved several significant measures for the Canary Islands. Minister of Territorial Policy and Democratic Memory, Ángel Víctor Torres, highlighted the importance of these decisions in a video shared on his social media.
One of the key approvals is the authorization of the operator's title for the future Hydroelectric Power Plant of Güímar, in Tenerife. According to Torres, this is "another step in the commitment to renewable energies" in the archipelago.
Additionally, 44 million euros will be allocated to Dependency services in the Islands, 4 million for the care of unaccompanied migrant minors, and another 8.5 million for desalinated water treatment. In total, state funding amounts to over 50 million euros for various items.
The Government of the Canary Islands has also received authorization to use 300 million in short-term debt.
The new plant in Güímar, scheduled to begin operations by mid-next decade, will promote the energy decarbonization of Tenerife and La Gomera. Secretary of State for Energy, Joan Groizard, explained that the project, with an investment exceeding 1 billion euros, will generate significant economic returns and save approximately 200 million euros annually in electricity generation.
Groizard emphasized that the investment will be recouped in just over five years and that the infrastructure will have a lifespan of decades. Beyond its profitability, it will benefit consumers by integrating more renewable energy and reducing reliance on fossil fuels.
It is estimated that one-third of Tenerife's electricity demand could be met by this pumped-storage system, which will store surplus wind and solar energy as water in reservoirs, converting it back into electricity when needed. Its operation will be similar to the Chira-Soria project in Gran Canaria.
The plant will have a peak capacity of between 200 and 220 megawatts and approximately 16 hours of storage, functioning as a "large battery" to ensure supply security and facilitate greater integration of renewables for Tenerife and La Gomera.
This agreement activates the mandate for Red Eléctrica to carry out the engineering work and submit it to the Canary Islands regional government for environmental assessment and administrative processing. The Government will define the technical and economic parameters of the regulation throughout this year.
The project's processing and construction are expected to take about a decade, but by mid-next decade, Tenerife is anticipated to have its reversible pumping system, similar to what Gran Canaria will have soon.
