Why is Portugal investing in solar energy?

Portugal is increasingly prioritizing solar energy investments, reflecting a national commitment to sustainability and reducing carbon emissions in the energy sector. The solar energy market has grown significantly in recent years, driven by technological advances and declining costs.

When will a floating solar photovoltaic project start in Portugal?

In December 2021, the Minister of Environmental and Climate Action of Portugal announced the launch of an auction for 262 MW of floating solar photovoltaic (PV) capacity to be installed at seven dams across the country. The project is expected to be fully operational by 2023.

What is a photovoltaic & concentrated solar power market report?

The market research report covers market dynamics, growth potential of the photovoltaic (PV) and concentrated solar power (CSP) markets, economic trends, and investment & financing scenario in the Portugal.

What is Portugal's PV capacity?

The country’s cumulative installed PV capacity now stands at 5.66 GW, as it works toward a revised 20.8 GW target by 2030. Researchers in Portugal have simulated 800 power purchase agreemeents across eight different contract type and have found that contracts with a variable price structure achieve higher performance.

How many energy storage projects were selected in Portugal's 2025 procurement?

A total of 43 projects were selected from 79 applications in Portugal’s 2025 energy storage procurement. This included six projects from Spain’s Iberdrola, which secured nearly €20 million ($20.6 million) in public funding.

How reliable is Portugal's electricity grid?

Portugal’s electricity grid has proven reliable, with a peak generation capacity of 19,974 MW significantly surpassing the peak consumption of 8,794 MW in February 2018. This marks the highest consumption since 2011. The country’s power supply is secured by the flexibility offered by combined cycle gas turbines and pumped hydro storage. 5