Renewable energy supplies 91% of electricity in Portugal

Renewable energy supplies 91% of electricity in Portugal - Portugal Business News

Portugal news - Renewable energy supplied 91% of electricity in Portugal for the month of March while it supplied 89% of consumption for the first quarter of 2024, that is the highest value for this quarter since 1978.

What percentage of Portugal's energy is renewable?

Portugal has achieved a historical milestone in the production of renewable energy, since it supplied 89% of consumption in 2024, while it supplied 61% of electricity consumption in 2023.

What are Portugal's sources of renewable energy in 2024?

Portugal's sources of renewable energy for the first quarter of 2024 were composed of 47% from hydroelectric power, 31% from wind power, 6% from photovoltaic power, and 5% from biomass.

For the first quarter of 2024, natural gas production supplied 11% of consumption, while Portugal exported around 1% of the electricity produced. Portugal’s natural gas market registered a year-on-year decline of 5.8% in March 2024, due to the high availability of renewable energy, and the supply was mainly from the Sines LNG terminal. At the end of the first quarter of 2024, Portugal’s annual accumulated gas consumption registered a year-on-year decline of 10%, representing the lowest consumption since 2014.

For the month of March 2024, Portugal exported around 11% of electricity produced, for the first time in 2024. It is to be noted that, in 2024, Portugal ranks 6th EU country using the highest share of renewable energy according to Eurostat. 

Portugal’s success story in the renewable energy sector is such that the country’s energy sector is no longer the main source of CO2 emissions, since the main source of carbon emissions is now the transport sector.

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