Outlook for the Portuguese Renewable Industry in 2021

Last August, the Portuguese government awarded a tender for 670 MW of solar energy. The tender for solar energy achieved a world record low price of €11.14 per MWh (€0.01120/kWh) in one of the lots. This price is much lower than the bids seen in a recent Spanish tender where the lowest bid for solar energy was €0.01498 kWh. 

There is growing interest from international players to compete in the market as Portugal's demand for greener energy increases considerably. In November 2021, the last coal power plant in operation in the country will shut down, transforming the country as the fourth European state to eliminate coal from electricity production.

Nonetheless, developing green energy in the country can be more challenging than one might expect. Compared to other nations in Europe, Portugal's total geographical area is much smaller, and its peripheral location is a difficult challenge in terms of interconnectors. 

As a new player looking to enter the market, it is getting harder than ever given the size of a few developers that dominate the market. Even for those smaller companies that might penetrate the market, financing their projects is another challenge they must face. 

Overall, this is a topic of discussion that creates a passionate response from everyone in the industry. Please join us for our next webinar on February 25th at 16:00 PT time to dive deeper into the subject with a panel of seasoned professionals.

Agenda: 

  • An introduction to the Portuguese market, legal, financial, and political outlook.
  • The effects of Portuguese renewable tenders on the market: How do smaller players compete against the largest market players? How is this affecting the financing of future projects?
  • New players are getting into the Portuguese market (Latam, US, Asia): How can these players penetrate the market? 
  • Success cases of new players who started operating from no previous history in Portugal.
  • Future trends:
    • Consolidation.
    • Changes in policy.
    • New technologies.

Participation is free and everyone is welcome to attend.

Speakers

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Spain

José Luis Álvarez

Director at Voltiq
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Portugal

Luísa Carrilho da Graça

Senior Associate at GA_P
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Portugal

Manuel Pessanha

Transaction Manager at KGAL
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Portugal

Rui Corrêa Henriques

Head of Global Debt Finance Portugal at Santander Corporate & Investment Banking

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