portugal

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.

Portuguese oil and gas company Galp has acquired the 24.99% it did not already own in Titan, a solar joint venture it created with Spanish engineering company ACS Group in 2020.

Shell and Engie are among the companies leading a consortium established to develop a green hydrogen ecosystem in Europe.

Portuguese utility EDP is to add energy storage to a hybrid floating solar and hydropower project after it was energised last week.

Iberdrola has signed a power purchase agreement (PPA) to sell electricity from its 590MW solar plant in Spain to food and drink giant PepsiCo.

A round-up of the latest solar project news, as BNZ enters Portugal, Centrica pens a VPPA with Matrix Renewables in Spain and a 73MW plant in California is completed.

Powering electrolysers with renewables generation that would otherwise be curtailed could be an effective strategy for producing green hydrogen in the coming years until the H2 sector benefits from further cost declines, it was suggested during a panel discussion.

Portugal’s electricity regulator has said higher than forecasted solar and wind generation has allowed it to propose a 2.6% reduction in regulated tariffs to protect consumers in the country from soaring energy prices.