Spain’s recovery and resilience plan (Plan de Recuperación, Transformación y Resiliencia)

To benefit from the support of the Recovery and Resilience Facility set up by the EU in the aftermath of the COVID-19-induced economic crisis, Member States submit their recovery and resilience plans to the European Commission. Each plan sets out the reforms and investments to be implemented by end-2026 and Member States can receive financing up to a previously agreed allocation. Each plan should effectively address challenges identified in the European Semester, particularly the country-specific recommendations of 2019 and 2020 adopted by the Council. It should also advance the green and digital transitions and make Member States’ economies and societies more resilient. The Commission validates the plan after which it effectively enters in force and EU subsidies can start flowing towards the member state.The European Commission has given a positive assessment to Spain’s recovery and resilience plan, which will be financed by €69.5 billion in grants. 40% of the plan’s total allocation for reforms and investments supports climate objectives.Law on climate change and energy transition: establishing into law the renewable targets for 2030 and the objective of climate neutrality by 2050, including a 100% renewable electricity system.Innovative renewable energy sources: developing innovative renewable energy sources, integrated into buildings and production processes, including the implementation of the renewable hydrogen roadmap. €3.9 billionEnergy efficiency residential renovations: supporting more than half a million energy efficiency renovations in residential buildings to achieve, on average a primary energy demand reduction of at least 30%. €3.4 billion