Amid the mayhem provoked in the world energy market by Russia’s invasion of Ukraine, Spain and Portugal have emerged in a strategically advantageous position as an “energy island” in Europe, with a relatively low reliance on Russian natural gas. Leaders in renewable energy thanks to solar, wind and hydraulic power, Spain and Portugal are now […]
Portugal’s EDP to invest up to 13 billion stg in UK wind and solar by 2030
LONDON : Power company Energias de Portugal (EDP) plans to invest 12.86 billion pounds ($17.69 billion) in wind and solar projects in Britain by 2030 as the country strives to lower its emissions to net zero by mid-century. EDP plans to invest via its subsidiary EDP Renovaveis (EDPR), the world’s fourth largest renewable energy producer, […]
BP Solar Venture Makes Gigawatt-Scale Portugal Move and Eyes Green Hydrogen
Developer co-owned by oil supermajor joins local partner for five projects and studies renewable H2 potential. Lightsource BP made another big move in European solar with a 1.35GW co-development deal in Portugal, where it also looking at opportunities in green hydrogen. The solar PV group, 50%-owned by the UK oil & gas supermajor, will co-develop […]
Portugal: The EIB partners up with the Portuguese Republic to accelerate investments in the hydrogen sector
Memorandum of Understanding to establish institutional cooperation in the hydrogen sector. The EIB is available to provide financial support to eligible projects, technical assistance and advisory support to foster investments in the sector in Portugal and to improve the bankability of projects. The agreement supports the country’s PNEC 2030 & RNC2050 strategies and is aligned […]
Spain’s Iberdrola seeks EU funds for large-scale floating wind power farm
Several projects are underway in Europe to build turbines on floating platforms where the seabed is too deep for fixed structures MADRID: Energy group Iberdrola plans to spend more than 1 billion euros ($1.2 billion) on an industrial-scale floating wind power farm off the Spanish coast if it secures help from a fund that seeks to lift […]
Portugal: EIB and BPI provide EDP Renováveis with €112 million to construct and operate two wind farms with a total capacity of 125 MW
The wind farms are located in the districts of Coimbra and Guarda, in the west and north of the country. 560 jobs expected to be created during the implementation phase. The EIB financing is backed by the European Fund for Strategic Investments (EFSI).The European Investment Bank (EIB) will provide €65 million and BPI an additional […]
Portugal’s Galp sees further pandemic damage, Q3 recovery still uncertain
The company said recovery relied on a number of factors, including government policies, the impact of the pandemic on the wider economy and supply and demand for oil LISBON: Portugal’s Galp Energia said on Monday the collapse in demand caused by the coronavirus pandemic was set to further impact its performance in the second quarter […]
Portugal: COP 25 – Climate change – EIB supports clean energy by financing three EDP Renewables wind farms
The EU bank supports the construction of three wind farms with a total capacity of 96MW in the North and West of Portugal First energy project signed in Portugal since the approval, of the new EIB Energy Lending Policy in November 240 jobs created during the implementation phase During COP 25, the 25th annual Conference […]
8 Countries (Besides the US) With Solar Under $25 per Megawatt-Hour
Around the world, solar power price records just keep on coming. One of the biggest U.S. solar stories of the summer was developer 8minute’s pricing record of $19.97 per megawatt-hour for a Los Angeles project. The project, which looks set to go ahead following initial union resistance, remains a relatively rare public example of sub-$25 […]
Portugal’s Galp ups investment plan, seeks more renewable energy, natgas
The oil company’s chief executive, Carlos Nuno Gomes da Silva, said on Tuesday it would invest 10-15% of the total in new renewable energy, most of it to harness solar power, although not ruling out wind power and other technologies. Lisbon : Portugal’s Galp Energia earmarked between 1 billion euros ($1.11 billion) and 1.2 billion […]