Repsol launches construction of Aguayo II pumped‑storage plant in Cantabria

Repsol has begun construction of the Aguayo II pumped‑storage facility in the Cantabrian valleys of San Miguel de Aguayo, Molledo and Bárcena de Pie de Concha. The project, valued at €900 million with €180 million in European Union subsidies, received final approval from Spain’s Ministry for the Ecological Transition and will run for about four and a half years.

The underground plant will use the Mediajo and Alsa reservoirs to store excess renewable energy by pumping water uphill, then generate up to 1,014 MW of electricity and 1,181 MW of pumping capacity. It is expected to supply roughly 800,000 households and bolster Spain’s renewable‑energy integration, while creating around a thousand jobs during peak activity.