Portuguese energy sector needs €60 billion by 2030, government says – EURACTIV.com

According to the energy transition and decarbonization plans, Environment Minister Duarte Cordeiro said on Wednesday that the energy sector would see at least 60 billion euros in investments, mainly private, by 2030.

“Based on the estimates made by our ministry, by 2030 the Portuguese energy sector will mobilize investments of at least 60 billion euros,” Coreiro said. parliament.

According to the Minister, this is a “conservative” balance sheet based on the objectives set in the energy transition and decarbonization plans for the energy sector and corresponds mainly to private investments by national and foreign companies.

Cordeiro also pointed out that, to achieve the objectives of the National Energy and Climate Plan 2030 (PNEC 2030), it will be necessary to increase wind capacity by 3.4 gigawatts (GW), “which represents an investment of between €4 and €4.5 billion”.

In terms of solar energy, an increase in production capacity of 6.4 GW will be necessary, “which represents an investment of between 4.3 and 4.7 billion euros”, specified the minister.

As for the 10 GW auction for offshore wind power, which will be launched after the ongoing public debate on the maritime areas where it can be installed, the Ministry of the Environment estimates that the investment will be between 30 and 40 billion euros.

Investments in hydrogen have also been accounted for, and the national strategy provides for an amount of between 7 and 9 billion euros in production projects, as well as support for investment and production of 900 million euros, until 2030.

In addition, €204 million will be provided for the ‘green’ gas pipeline corridor which will cross the Iberian Peninsula to Marseille, France.

Finally, the minister also highlighted the investments in the national transport network, with approved amounts of 430 million euros, until 2026, and 760 million euros from the operational program sustainability and efficiency in the use of resources (POSEUR) and the recovery and resilience program. (PRR) that have been allocated to energy efficiency projects.

“The total value of these investments that I have described corresponds to approximately 25% of the current GDP of our country. [Gross Domestic Product],” he added.

(Maria João Pereira | Lusa.pt)

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