61%
Share of renewables in electricity's production
Source: DGEG | 2022
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Renewable energy sector
The renewable energy sector is a vibrant ecosystem of innovation and investment focused on meeting Portugal’s sustainability ambitions.
Renewable energy sector at a glance
Portugal's geographical position is favorable to multiple forms of renewable energy , with the country holding the following endogenous characteristics: rainfall (orography), sun hours (solar), topography (wind), seacoast (waves and offshore wind), forest (biomass).
Companies based in Portugal are driving innovation in the renewable energy sphere and play an important role in greening Europe's energy mix.
Renewable energy sector insights
The country has demonstrated important leadership in the transition towards clean energy, by integrating electricity from renewable sources of energy.
Portugal also plays an important role in the production of components for renewables, having attracted relevant international players in the sector, namely for wind energy, such as blades, towers, rotor blades, solar panels, etc.
Furthermore, the country has been a pioneer in attracting and implementing technological advances and investments in emerging renewable sources, with internationally-known projects in Floating Offshore Wind, Wave, Tidal and Floating Solar.
Production of electricity by energy source | 2022
24
%Wind
23
%Hydro
6
%Solar
6
%Biomass
2
%Others
Others include Waves and Geothermic Energy.
Recent FDI projects in Portugal
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CS Wind (South Korea)
In 2021, the South Korean CS Wind, took control of ASM Industries, a manufacturer of wind towers based in Aveiro, by purchasing, for €46,5M, 60% of the company. In the beginning of 2022, it acquired the remaining 40%. Now, CS Wind will invest €260M until 2026, in order to double its Portuguese workforce to more than 1.000 professionals and quintuple its subsidiary's turnover to €400M.
Siemens Gamesa (Germany)
Siemens Gamesa is one of the world's largest manufacturers of wind equipment. In May 2020, it acquired a blade manufacturing plant located in Aveiro, Centre of Portugal. In 2021, the company invested €35M in the installation of six new production lines for the manufacturing of wind blades, thereby becoming one of the largest onshore blade plants in Europe, employing over 1.300 professionals.
Vestas (Denmark)
In 2017, the Danish based Vestas implemented a R&D center in Porto, North of Portugal. Currently, the center employs 600 professionals and represents one third of the total innovation capability of the company worldwide. The center is specialized in electrical, civil and mechanical engineering, IT development, data analytics and virtual reality.
