This included six projects from Spain’s Iberdrola, which secured nearly EUR 20 million in public funding. 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.
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.
The efforts require the development and implementation of an appropriate legal, policy and funding framework, and for oversight by the Commission for Climate Action. The IEA notes Portugal’s potential in developing commercial opportunities in the energy storage value chain.
Portugal’s government has announced the outcome of an energy storage tender that will see the installation of 500 MW of energy storage capacity to support the country’s energy transition. Energy storage battery. Photo by Anna Vasileva
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