Malta Iberia Pumped Heat Electricity Storage S.L.U. (Malta Iberia) has been granted a Project Development Assistance Agreement from the European Union and the European Investment Bank to pursue a 100MW energy storage facility in Spain. Malta Iberia was selected by the European Innovation Fund for its Sun2Store project. The Sun2Store project in Spain will provide 100MW of thermal energy storage at a ten-hour duration, providing 1,000MWh of clean energy. 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. Malta is partnering with Alfa Laval on the heat exchangers and Siemens Energy on the project’s turbomachinery.
The Project Development Assistance Agreement will provide Malta Iberia with tailor-made technical assistance by the European Investment Bank and will include an independent technology assessment to verify key technical parameters of the storage facility. Malta was selected as a viable breakthrough technology that is easily scaled and capable of providing timely, high-impact reductions in greenhouse gas emissions.