The portuguese renewable market in one shot

portugal_renewable_market

Portugal has set ambitious objectives for its energy future, with the goal of generating 80% of its electricity from renewable sources by 2026. Based on national targets for the 2030 horizon, the country aims to reduce its greenhouse gas emissions by 45% from 2005 levels, showing its commitment to fighting climate change. To further support its efforts, it aims to improve energy efficiency by 35% and interconnection networks by 15%, which will help reduce overall energy consumption and reduce the country's dependence on non-renewable sources.

Furthermore, Portugal plans to have 47% renewables in energy end-use by 2050, a significant increase over current levels. The country also wants to achieve carbon neutrality, reduce greenhouse gas emissions to 85% - 90% and position itself in the market as an exporter of green energy. With these objectives, Portugal is positioned as a leading renewable energy country in the European Union and preparing the ground for others to follow its example.

Vector Renewables has been present in Portugal since 2022 and, as an independent advisor, has been a witness and active part of the industry, supporting numerous clients in all phases of project life. Projects that have changed the paradigm of power generation, creating incalculable advances in the renewable sector in a very short period of time, together with leading associations in the sector such as APREN, which favor coordination and permanent contact with the Government, the responsible Ministries and the respective agencies.

In the following document you can find more information about the Portuguese renewable market such as: Installed capacity in 2023, regulation, energy objectives, most relevant associations in the sector, among others.

If you want to have some more information about the Portuguese renewable market, you can contact us through our website form.