Portugal has raised the target for its first offshore wind auction due to take place in 2023 to 10 GW in a bid to move faster on the country’s energy transition. Previously, the capacity announced was 6 to 8 GW (June 2022) and 3 to 4 GW (March 2022). The wind projects could be commissioned by 2026.
Portugal currently has only 25 MW of offshore wind capacity. Portugal's installed capacity (21.4 GW at end-2021) is dominated by hydro (33%), followed by wind (26%), gas (23%) and solar (8%). Portugal's NECP 2030 (2021-2030) sets a target of 47% of RES contribution in final energy consumption (from around 30% in 2020).
The country, which phased out coal-fired generation in 2021, currently generates around 60% of its electricity from renewables (hydropower, wind and solar) and expects to reach 80% before 2030.