Portugal is set to achieve 80% renewable energy by 2026 through a combination of solar energy licensing, wind tower renovation, hydrogen support, and offshore wind production, according to the country’s Environment Minister, Duarte Cordeiro.
Speaking at the inauguration of the photovoltaic plant of ceramic company Revigrés, the Minister stated that the development of hydrogen and offshore wind energy will reduce Portugal’s energy dependence.
Duarte Cordeiro also mentioned that the government is accelerating the licensing process of solar energy production and the renovation of wind towers with higher productivity while supporting the production of energy from hydrogen and relying on offshore wind production to achieve the target.
Portugal has already achieved an autonomy of 70%, but this mostly occurs in the autumn and winter seasons, when there is wind and dams are full. Offshore wind energy can guarantee yearly production, which is crucial to meeting the country’s renewable energy goals.
Duarte Cordeiro praised Revigrés for its investments in renewable energy and its capacity to reuse resources in its production process. The company’s photovoltaic plant now supplies around 20% of the energy consumed in its production process, thanks to an investment of over 14 million euros, supported by the Recovery and Resilience Plan (PRR) and financed in 50% by its own capital.
Duarte Cordeiro also highlighted the consequences of the war in Ukraine, which led to a rise in energy prices. However, the government has cushioned the impact, including investing 4.5 billion euros to reduce network access tariffs and adopting a mechanism to reduce gas prices for companies that consume more than 10,26 cubic meters of gas. These measures have allowed the liberalized market to have the lowest prices of the last nine years and have also resulted in a 3% reduction in the price of electricity in the regulated market in April.
The Minister assured the public that the government has instruments in place to prevent market prices from rising too much throughout the year, while at the same time accelerating the introduction of renewable energies to ensure low prices in the future.