Portugal opens its arms to increase renewable investments and does so by announcing a reform to streamline permitting procedures. The objective is to promote a rapid deployment of clean energy with the incorporation of project procedures to the Simplex administrative program. The announcement was made yesterday by the Portuguese Prime Minister António Costa during the inauguration of the Iberdrola solar plant in Alcochete.
Iberdrola accepted the gauntlet thrown by Costa and its president, Ignacio Galán, announced that it will support the commitment to the energy transition by accelerating its investments to expand the country's renewable capacity. Thus, by the end of next year, the group's investments in Portugal will exceed 2,000 million euros. Additionally, the company plans to allocate 3,000 million in the coming years to solar, wind and storage projects, as well as new solutions such as green hydrogen.
The meeting between Costa and Galán is the second in the last six months. The Chairman of Iberdrola highlighted the stability of the regulatory perspectives in Portugal and the dynamic approach of the permit granting processes as the key factors for the company's commitment. “The measures announced in recent months by the Government of Costa and the new initiatives underway show the clear leadership of Portugal. This effort must be shared by the companies. And for this reason, in response to its clear and stable regulation, Iberdrola wants to take another step in its commitment to Portugal and its citizens", added the main executive of the electricity company.
The Alcochete I and II solar plants (46 MW) in the Setúbal district have bifacial solar modules that increase energy production by up to 30% compared to traditional panels thanks to the fact that both sides of the panel manage to absorb energy from the sun. In addition, bifacial cells reduce the average cost of electricity by 16%. The floors also have a tracker system that allows the movement of the modules depending on the trajectory of the sun. The infrastructure will supply enough green energy to meet the needs of 26,400 homes for one year.
