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Country Highlights

Portugal’s Renewable Energy’s Growth Potential

Portugal has made tremendous strides in developing its renewable energy sector in recent years and has set ambitious targets to continue this transition towards a sustainable, low-carbon energy future. The country has an abundance of natural resources like solar power, wind energy, and hydroelectric potential that can be harnessed to supply a large portion of its energy needs.

Portugal receives among the highest levels of solar irradiation in all of Europe, with locations in the southern Alentejo and Algarve regions estimated to have enough solar power potential to meet 25-30% of the nation’s total energy demand. Large solar farms have been constructed to take advantage of this natural asset, and Portugal’s feed-in tariff incentives and streamlined permitting have attracted substantial private investment into utility-scale photovoltaic projects.

Wind energy capacity has also expanded rapidly thanks to major public and private sector commitments. Onshore and growing offshore wind power installations have increased Portugal’s total wind capacity to over 2,500 megawatts currently, though the government’s targets envision nearly tripling this to 7,000 megawatts by 2030. As a mountainous country with over 200 rivers flowing from its interior highlands to the coasts, Portugal is also well-equipped to generate a significant portion of its energy needs from hydroelectric sources and pumped storage facilities.

Beyond solar, wind, and hydropower, Portugal is working to further develop other renewable technologies as well. Biomass energy from forests and agricultural waste is being utilized, while emerging areas like tidal, wave, and hydrokinetic power hold future potential as the technologies advance. The nation has signaled its commitment to a green energy economy by setting an ambitious strategic goal of fulfilling 80% of its energy requirements from renewable sources by 2030.

With its combination of excellent natural resources, supportive policies, and targeted investments, Portugal’s renewable sector is poised to grow rapidly in the coming years. A successful transition to clean energy sources can boost energy security while also creating green jobs and business activity nationwide. If current momentum continues, renewable power will increasingly power homes and industry across Portugal, supporting sustainable economic development and environmental protection for decades to come.

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Understand the macroeconomic situations that affect the global positioning of countries.

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Featured Reports

Understand the macroeconomic situations that affect the global positioning of countries.

Businesses can better understand how chatbots can advocate their vision.

DeFi helps reduce dependency on traditional methods of transactions.

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