Portugal allocates funding for 500 MW of energy storage
To this end, the country''s Ministry of Energy announced on Wednesday that it has allocated €99.75 million ($107.6 million) in a bid to support 500 MW of energy storage projects.
Portugal's Ministry of Energy has announced that it has allocated EUR 100 million ($104.2 million) to 43 energy storage projects which should be installed by the end of 2025. A total of 79 applications were vying for grant support secured under the country's Recovery and Resilience Plan (RRP).
Portugal's government has announced the outcome of an energy storage tender that will see the installation of 500 MW of energy storage capacity to support the country's energy transition. Energy storage battery. Photo by Anna Vasileva
Portugal's updated energy plan targets 80% renewable electricity by 2026 and 85% by 2030. Marija has years of experience in a news agency environment and writing for print and online publications. She took over as the editor of pv magazine Australia in 2018 and helped establish its online presence over a two-year period.
Power generation capacity is around 22GW. Minister of Environment and Energy Maria da Graça Carvalho said: “This is a significant step towards Portugal's energy independence and towards building a greener and more sustainable energy future.
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