1、 PORTUGALS ENERGY AND GREEN TRANSITION Potential opportunities and partnerships for Swedish companies within Portugals energy sector Wednesday,15 May 2024 2(15)EXECUTIVE SUMMARY Portugal is dedicated to achieving climate neutrality by 2045 and having 85%of its electricity sourced from renewables by

2、2030.To reach these goals,renewable energy capacity will primarily focus on solar photovoltaics,onshore and offshore wind,and hydropower.Both national and international investments and funds will be leveraged to successfully reach Portugals climate neutrality goal.This includes the Recovery and Resi

3、lience Plan,and Portugals temporary crisis framework,which aims to accelerate the production of batteries,solar panels,wind turbines,heat-pumps,electrolysers,and equipment for carbon capture usage and storage.A robust grid network infrastructure is crucial for realizing these ambitions,prompting the

4、 government to prioritise improvements between 2025-2030 to facilitate greater integration of renewable energy.By 2030,20.4 GW of onshore and offshore wind farms will be installed.Onshore wind investments will focus on hybridisation,over-equipping and retrofitting current wind farms to increase thei

5、r competitiveness while offshore investments will aim at building on existing resources on the national coastal zone.Portugal also aims to install 21 GW of photovoltaic energy by 2030.In the short-term,these investments focus on reinforcing the grid where it lacks capacity for large PV projects as w

6、ell as booting the establishment of renewable energy communities.Additionally,Portugal aims to integrate 8%of green hydrogen into its energy consumption,transport,and industry sectors by 2030.Strategic investment opportunities for green hydrogen,such as the Sines Industrial and Logistic Zone,are hig