Projects for the use of deep geothermal energy in the island of La Palma, the Institute for Diversification and Energy Saving (IDAE), has published a resolution granting aid for these projects, with a grant of about 49 million euros for the various initiatives, public and private companies such as Repsol, Sodepal, Canopalma or Energía Bonita, have already presented their proposals.
The Special Commissioner for the Reconstruction of the island of La Palma, Héctor Izquierdo Triana, also mentioned that "La Palma has been selected by the European Commission to be one of the 30 island territories 100% managed by renewable energies by 2030, and this project is part of the strategy to achieve the objective".