The Portuguese Government has revised its integrated National Energy and Climate Plan (NECP) for the period of 2021-2030, which confirms a 2022 target of reaching 80% of renewable power generation in 2026 instead of 2030 and aims to cut greenhouse gas (GHG) emissions by 55% by 2030 (compared to 2005) to reach climate neutrality by 2045.
The updated NECP aims at doubling the planned capacity of electrolyzers (from 2.5 GW to 5.5 GW), and commits to launch auctions for a capacity of 10 GW of offshore wind by 2030. It will also strengthen the installed capacity of onshore wind (by retrofitting the current parks with the latest technology, greater capacity and higher production), and bets on solar PV, including decentralized production (such as Renewable Energy Communities). Boosting renewables should help phase out gas-fired power generation from 2040.
The current energy transition strategy represents €75bn of investment in green energy production projects. The first auction of offshore wind production should take place this year to allow the installation of at least 2 GW by 2030.
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