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Investments of EUR 60 B in Portugal’s Energy sector


Investments of EUR 60 B in Portugal’s Energy sector - portugalbusinessesnews.com
Investments of EUR 60 B in Portugal’s Energy sector - Portugal Business News

Private investments of over EUR 60 billion are expected in Portugal’s Energy sector by 2030, according to Portugal’s Minister of Environment and Climate Change, Duarte Cordeiro. The total value of investments in the energy sector will be equal to around 25% of Portugal’s GDP.


The Iberian Mechanism has already generated EUR 570 million and has led to a market price reduction of EUR 43.78 for each MWh. It is to be noted that, according to Portugal’s statistics office, INE, the inflation on energy products was 1.96% and the impact of the Iberian Mechanism was not only on prices but it also led to lower inflation. The Iberian Mechanism is a temporary measure that places a price cap on gas prices since June 2022 has led to a market price of EUR 60 per MWh in Portugal and Spain.


Portugal’s national plan for energy and climate 2030 lays out the goal of increasing the country’s wind capacity by 3.4 GW, that would require an investment of around EUR 4 billion. For solar energy, the country needs to increase production capacity by 6.4 GW, that would require an investment of around EUR 4.5 billion. For offshore wind energy, a tender will be launched for 10 GW, that will require an investment of around EUR 35 billion.


For hydrogen production, investments of around EUR 8 billion are expected, while investment support will reach around EUR 900 million by 2030. The Green Corridor for the hydrogen pipeline that will go from the Iberian Peninsula to France will require an investment of EUR 204 million.


Investments of EUR 430 million were approved for Portugal’s national transport network to be implemented by 2026. There will also be additional investments of EUR 760 million from the operational sustainability and efficiency program, POSEUR, and from the recovery and resilience plan, PRR.







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