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canary islands electricity power investment 2026

Canaries Secures Major Power Boost in €500m National Deal

The Canary Islands have been awarded the lion’s share of a major national electricity capacity auction, mobilising over €500 million in investment. More than 1,000 megawatts of the 1,450 MW allocated nationwide will go to the archipelago, bolstering energy security and keeping wholesale prices in line with mainland Spain. This historic deal covers the islands’ power needs until 2029 and modernises the grid to support future economic growth.

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canary islands pension increase doubt after congress vote

Canary Islands Pension Rise in Doubt After Congress Vote

The future of a planned 2.7% pension increase for over 418,000 retirees in the Canary Islands is uncertain after Congress rejected the government’s omnibus decree. The government must now act swiftly to pass a new bill to prevent February payments from reverting to last year’s rates. The political stalemate mirrors an identical situation that occurred just one year ago.

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tenerife space horizon aerospace strategy jobs investment

Tenerife Unveils Ambitious Aerospace Strategy to Create 500 Jobs

Tenerife has launched its most ambitious aerospace strategy to date, ‘Tenerife Space Horizon’, aiming to position the island as an international leader in the sector. The plan forecasts creating over 500 direct jobs and mobilising nearly €79 million in investment over five years. This initiative seeks to diversify the island’s economy and retain young talent through high-tech opportunities.

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canary islands zec record growth jobs 2025

Canary Islands ZEC Grows Five Times Faster Than Regional Economy

The Canary Islands Special Zone (ZEC) is booming, growing five times faster than the archipelago’s overall economy. With record turnover, profits, and the creation of nearly 1,500 new jobs in 2025, the ZEC is becoming a major hub for high-value international businesses. Read how this special economic zone is transforming the Canaries’ business landscape.

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