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).
The addition of at least 500 MW of energy storage projects “will enable significant advances in the decarbonization of the energy system and the transition to a greener economy, aligning with the goals established in the National Energy and Climate Plan 2030.
therefore essential to meet European targets.Energy storage installed capacity in Portugal is still predominantly based on hydropower pumping, which is today over 3 GW, and will increase to 4,164 GW whe the Alto-Tâmega dam is completed this year. However, this paradigm is about to shift with the democratization of energy sto
The pursuit of economic viability by storage facility owners will inherently lead to charging during low-cost hours and discharging during hours that are more economically attractive. Storage can replace thermal generation in constraint markets, easing the grid and supporting Portugal’s 2040 phase-out target.
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