Portugal's new govt committed to developing offshore wind, minister says
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 27 2024
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Source: reuters
- Portugal's Offshore Wind Energy Development:
- The new Portuguese government is focusing on developing offshore wind energy, repowering onshore wind farms, and promoting solar projects.
- Details of the offshore wind energy policy will be announced in July, including guidelines for a planned key licensing action.
- The previous administration had set a capacity of 2 gigawatts for the country's first offshore wind auction.
- Various utilities, such as EDP, Engie, BayWa, IberBlue Wind, Copenhagen Infrastructure Partners, Galp, and TotalEnergies, have shown interest in the upcoming auction.
- Floating wind farms are expected to be installed in deep waters to harness stronger and more continuous winds for increased power generation.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
