Portugal plans to increase the share of renewables in its electricity consumption to 93% by 2030, according to an updated draft of its energy and climate plan reviewed by Reuters on Monday. This move is part of the country's broader decarbonisation strategy.
However, the draft also reveals a 45% reduction in the 2030 target for installed electrolyzer capacity for green hydrogen production. Portugal is in the early stages of developing electrolyzers and currently has minimal green hydrogen production.
The updated draft will be available for public consultation until September 5, after which it will be submitted to parliament. The new centre-right government will officially release the draft later on Monday.
In light of record gas prices in 2022 following the Russian invasion of Ukraine, European nations have increasingly turned to renewable energy sources. Portugal's renewable utilities supplied 61% of the country's electricity consumption in 2023, one of the highest rates in Europe. The former socialist government had previously set a 2030 target of 85%.
Environment and Energy Minister Maria da Graca Carvalho stated, “The updated plan aims to combat climate change and guarantee energy security and also attract investment and generate competitiveness.” She also mentioned a new target to increase the share of renewables in final energy needs to 51% by 2030, up from the current 47%.
The revised draft maintains the goal of reducing greenhouse gas emissions by 55% from 2005 levels by 2030 and achieving carbon neutrality by 2045. The plan calls for the installed renewable energy capacity to reach 42.9 gigawatts (GW) by 2030, doubling the 2023 capacity. This includes 12.4 GW of wind power, with 2 GW coming from offshore wind, and a target to expand solar capacity to 20.8 GW from 4 GW in 2023.
Despite lowering the green hydrogen electrolyzer target to 3 GW from 5.5 GW, the draft notes that Portugal's low-cost renewable electricity production offers favorable conditions for developing a green hydrogen industry.
