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Investing in Renewable Energy in Portugal: Opportunities and Growth

Portugal is establishing itself as one of the most attractive markets for renewable energy investments. The country, driven by the Portugal 2030 program and the National Energy and Climate Plan (PNEC 2030), offers a highly favorable environment for investors seeking strategic opportunities in the clean energy sector.

Portugal 2030 directs investments into six strategic areas, two of which are fundamental for the energy sector: Portugal+Green and Portugal+Just Transition.

In turn, PNEC 2030 sets ambitious sustainability targets for Portugal, including:

  • Reduction of 55% in greenhouse gas emissions;

  • Increase to 51% the share of gross energy consumption from renewable sources;

  • Increase to 20% the number of transport systems powered by renewable energy;

These targets indicate a rapidly expanding market, with strong government support and significant profitability opportunities.


Wind is an incredible opportunity in Portugal
Key Sectors for Investment in Renewable Energy

1# Solar Energy: A Growing Market

Portugal has exceptional climatic conditions for solar energy production. Currently, the country has 8.4 GW of installed capacity, with projections to reach 20.8 GW by 2030. This growth presents an excellent investment opportunity in solar infrastructure, energy storage, and electricity trading.


2# Offshore Wind Energy: The New Development Hub

Offshore wind energy is emerging as one of the most promising segments. The Offshore Renewable Energy Allocation Plan, approved by the government, projects an increase in installed capacity from 0.03 GW to 2 GW by 2030.

Estimated investments in this sector range from €2.3 billion to €13.1 billion by 2040, positioning Portugal as one of the leading European markets for offshore wind energy. The WindFloat Atlantic park, already operational off the coast of Viana do Castelo, demonstrates the sector’s technological viability and profitability.

In addition to offshore wind energy, onshore wind energy will continue to be a national priority, increasing from the current 6.3 GW to 10.4 GW.


3# Green Hydrogen and Biomethane: Two More Sustainable Fuels

Green hydrogen and biomethane (produced from biomass) are two environmentally friendly gases that are part of the energy portfolio with strong future potential.

Biomethane is produced from waste that would otherwise end up in landfills, thus reducing its environmental impact. This presents opportunities for developing businesses in waste management and processing for energy conversion. The environmental association ZERO highlights the importance of developing solutions for agriculture and livestock farming, enabling greater biomethane capture.

Meanwhile, green hydrogen is produced through water electrolysis, using electricity from renewable sources. It is a clean and versatile fuel that can replace fossil fuels in various applications, including transportation. However, its distribution and refueling infrastructure still require significant investments to be widely adopted on a large scale.


4# Infrastructure and Technologies to Support the Sector

To maximize the potential of renewable energy, Portugal must invest heavily in electricity transportation and storage infrastructure. Business opportunities extend beyond energy production and also include supporting infrastructure for production, management, transportation, and consumption.

This includes batteries for self-consumption systems and smart energy management systems, which play a crucial role in optimizing energy efficiency and grid stability.


One of the fastest growing sectors in Portugal's energy market
One of the fastest-growing sectors in Portugal's energy market

A Market Ready to Grow

With the clear targets of PNEC 2030, the strong incentives from Portugal 2030, and a favorable regulatory environment, Portugal stands out as one of the most attractive destinations for renewable energy investments.

The rapid expansion of solar and offshore wind energy, combined with the development of new electricity storage and transportation technologies, is creating an ideal scenario for investors seeking solid and sustainable returns.


For those looking to enter the renewable energy market, Portugal offers one of the best investment ecosystems in Europe, blending innovation, incentives, and a long-term vision for a sustainable energy future.


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