According to Prime Minister Antonio Costa, Portugal aims to accelerate the investments in green hydrogen projects that are necessary to decarbonize the economy and will stop requiring environmental evaluations for them in March 2023.
With 70 private investors or companies preparing to invest 10 billion euros ($10.51 billion), Portugal hopes to become a significant producer and exporter of green hydrogen.
The measure is a part of a package to decrease bureaucracy that also eliminates the need for environmental reviews for wind farms with towers more than two kilometers apart and solar facilities that use less than 100 hectares of land.
A major energy source that can lessen pollution from long-distance heavy transport, the steel and chemical industries, and long-haul heavy transport is green hydrogen, which is created using solar and wind electricity.
Portugal aspires to be able to create hydrogen and other renewable gases at competitive prices thanks to its significant emphasis on cheap wind and solar energy. Portugal currently gets 60% of its electricity from renewable sources, and by 2026, the government wants that percentage to rise to 80%.
