Portugal Aims to Lead in Renewable Energy, But Slows Down Green Hydrogen Ambitions
Key Ideas
- Portugal targets 93% renewable electricity consumption by 2030, with wind power capacity doubling and solar capacity increasing significantly.
- The country plans to lower the 2030 target for green hydrogen production, highlighting a shift in priorities towards other renewable sources.
- The draft proposal aims to attract investment and ensure energy security while combatting climate change, aligning with European trends in renewable energy adoption.
- Despite reducing green hydrogen targets, Portugal's advantageous conditions for the industry include low-cost renewable electricity production.
Portugal is set to increase its renewable energy consumption to 93% by 2030, focusing on wind and solar power expansion. While the country aims to double its wind power capacity, reaching 42.9 gigawatts by 2030, and significantly boost solar capacity to 20.8 gigawatts, it plans to scale back its green hydrogen ambitions. The draft energy and climate plan proposes reducing the target for green hydrogen production to 3 gigawatts by 2030, down from the initial 5.5 gigawatts. This shift indicates a strategic change towards prioritizing other renewable energy sources. The plan aligns with European trends as nations look to renewables amidst rising gas prices post the Russian invasion of Ukraine. The goal to combat climate change, ensure energy security, and attract investment underscores Portugal's commitment to decarbonization and competitiveness. Despite scaling down green hydrogen targets, Portugal's favorable conditions for a green hydrogen industry, such as low-cost renewable electricity production, provide a foundation for future growth in this sector.
Topics
Utilities
Climate Change
Investment
Renewables
Competitiveness
Wind Power
European Nations
Energy Plan
Solar Capacity
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