The Council of the Government of the Canary Islands has approved the declaration of strategic interest for the Soria-Chira hydroelectric reversible power station project, which will speed up the administrative permitting process due to its social and economic relevance.
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The Council of the Government of the Canary Islands yesterday approved, at the proposal of the Committee for Investments and Strategic Projects, the declaration of strategic interest project of the Soria-Chira hydroelectric reversible power station on the island of Gran Canaria.
The Soria-Chira hydroelectric reversible power station will have a turbine power output of 200 megawatts. The project includes other associated infrastructure and a planned investment of 320 million euros.
This is a key facility to advance towards the sustainability of the new energy model of the Canary Islands. This energy storage facility is an effective tool for the operation of the electricity system to improve security of supply, system security and the integration of renewable energies in the island of Gran Canaria.
With this power station, the electricity system of the Canary Islands will have an essential facility to take advantage of surplus renewable energy and integrate a greater volume of local and CO2 free energy to the detriment of fossil-based energies which are fuels that are more expensive and pollute more.
In accordance with the declaration of strategic interest, the project falls under Law 3/2015, of 9 February, on the preferential administrative permitting processing of strategic investments for the Canary Islands, which was approved in order to expedite the administrative process, by public administrations, of permits related to initiatives and investment projects in view of their particular relevance to the social and economic development of the islands.
Aspects such as the impact on the insular or Canary Island economy, especially in the field of employment generation, the ability to mobilise internal and external private investment, or the impact on sectors of particular interest to the archipelago are, among others, the requirements that projects must meet in order to receive the declaration of an investment as of strategic interest to the Canary Islands.
The law allows these projects declared as of strategic interest to go through the administrative permitting process in half the forecasted processing time.