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Portugal’s Floating Wind Project

Portugal's Floating Wind -
Portugal's Floating Wind - Portugal Business News

Portugal News - BayWa r.e. is planning to develop a Floating Offshore Wind Project in Portugal. BayWa r.e is headquartered in Munich with revenues of EUR 3.56 billion in 2021, that represents an increase of 61% due to the sale of plants having a total output of 612.8 MW.

Based in 29 countries, with 4,000 employees globally, BayWa r.e is a leading global renewable energy developer. Their joint shareholders are BayWa AG, a globally successful business with revenues of €19.8 billion, and Energy Infrastructure Partners, a market leader in energy infrastructure investment that manages over €2.6 billion from global investors.

The company has applied to Portugal’s government to secure the rights for an exclusive use of the seabed off the coast of Viana do Castelo in order to develop a floating wind farm with 30 turbines with a capacity of 600 MW.

In a bid to provide commercial support to Portugal’s transition to sustainable energy and to reach net-zero emissions in the coming decades, BayWa r.e plans to develop the project without public subsidies through a Power Purchase Agreement (PPA).

Since Portugal plans to increase the share of renewable energy in electricity production to 80% by 2026, the government has developed a marine spatial plan for energy production. Portugal is developing simultaneously a number of innovative Green Energy projects. These include Green Hydrogen production from renewable sources in Sines, the joint Portugal-Spain energy storage facility, the Green Energy Corridor from the Iberian Peninsula to France and is now working on a greenfield offshore wind project.

Portugal is part of the Industrial Strategy for Ocean Renewable Energies (EI-ERO) to develop the country’s offshore wind potential. According to EI-ERO, offshore renewable energy has the potential to supply 25% of the electricity consumed annually in Portugal and also to create a new export chain with these emerging technologies. Portugal’s government expects Green Energy exports to increase ten-fold the number of jobs in the active sectors and the greatest potential for exports is expected to be through the development of a Floating Wind Energy industry.

Portugal’s plans in the field are in line with the TWIND network of specialized research professionals in the field of offshore wind energy. TWIND has received funding from the EU Horizon 2020 for the coordination and support action program. The TWIND project aims at providing support to WavEC, an institution that includes Portugal.

In collaboration with the Embassy of Spain in Portugal, WavEC Offshore Renewables is hosting a seminar on the 10th of November about Offshore Wind in Iberia. Presenters will discuss topics such as innovation, the outlook for an Iberian offshore wind industry, the supply-chain and commercialization, including how to make renewable energy become a competitive option.

Portugal’s strategy for ocean renewable energy as an emerging industry is expected to have a high growth potential and a Floating Wind farm will be another string to its bow in order to target the energy transition with multiple sources of renewable energy.


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