Portugal’s Renewable Energy Ambitions: A 2030 Vision

Portugal aims to boost renewable energy to 93% of its electricity consumption by 2030, according to an updated draft of its energy and climate plan. The plan also revises down the target for green hydrogen electrolyzer capacity. The updated plan seeks to attract investment, energy security, and combat climate change.

Portugal plans to raise the contribution of renewables in electricity consumption to 93% by 2030, according to an updated draft of its energy and climate plan seen by Reuters.

However, the draft proposal also plans to lower the 2030 target for the installed capacity of green hydrogen electrolyzers by 45%. Portugal, which is just beginning to install electrolyzers, has almost no production of green hydrogen. The draft will be released later Monday for public consultation until Sept 5 before it is sent to parliament.

European nations are increasingly turning to renewable energies, especially after the Russian invasion of Ukraine in 2022 triggered record gas prices. Renewable energies supplied 61% of Portugal's electricity consumption in 2023, one of the highest ratios in Europe. Environment and Energy Minister Maria da Graca Carvalho said the updated plan aims to fight climate change, ensure energy security, attract investment, and enhance competitiveness.

The revised draft maintains Portugal’s commitment to reduce greenhouse gas emissions by 55% from 2005 levels by 2030 and achieve carbon neutrality by 2045. Overall installed renewable energy capacity is projected to rise to 42.9 GW by 2030, with significant increases in wind and solar power. The target for installed solar capacity has been raised to 20.8 GW by 2030.

(With inputs from agencies.)