Spanish utility Iberdrola has received environmental approval for the construction of Europe’s largest solar PV plant in Portugal, with a capacity of 1.2GW.
UK-based energy group Octopus Energy’s generation arm has invested in independent power producer (IPP) FF New Energy Ventures (FFNEV) to develop 1.6GW of solar and storage in Spain and Portugal.
Renewable energy producer Neoen has begun construction on what it is calling Portugal’s ‘largest’ solar park, a 272MWp facility comprising of two contiguous solar projects. The park is expected to be commissioned in early 2024.
In a push to accelerate the growth of renewables in Portugal, the government has introduced a package that will reduce environmental assessments for solar projects.
Winning bidders from Portugal’s solar auctions will have their tariffs increased in line with inflation as the government aims to ensure the projects remain economically viable.
The proliferation of solar requires PV projects to adapt to their grid surroundings, which increasingly entails connecting alongside adjacent technologies, be it energy storage, other renewables or green hydrogen. Amid the growing threat of curtailment, Jules Scully looks at the rise of the ‘solar-plus’ market and the financial models underpinning it.
German investment firm Aquila Capital has raised €1 billion in financing to support the development and construction of a 2.6GW renewables pipeline in Spain and Portugal over the next three years.
Portugal has already surpassed last year's solar PV deployment figures, with 578MW added up until 31 July 2022, according to data from the Portuguese Directorate General for Energy and Geology (DGEG).
Swiss renewables investor Smartenergy has acquired a majority stake in Rewatt, a Portuguese solar developer focused on the rooftop commercial and industrial (C&I) market.
