How much does Portugal pay for energy storage projects?
With this in mind, the Portuguese Ministry of Energy announced on July 31 that it was awarding €99.75 million to a call for tenders for the installation of energy storage projects totalling 500 MW. Eligible projects can receive up to €30 million and be implemented at the transport and distribution level by the end of .
Why is renewable capacity important in Portugal?
Now that Portugal is increasingly decommissioning fossil fuel plants, the need to ramp-up the growth and expansion of renewable installed capacity is being brought into sharper focus. Similarly, the need to invest in suitable alternatives and instruments to optimize renewable capacity is also becoming increasingly important.
How are energy storage projects remunerated?
Storage projects are remunerated according to market rules, as the production facilities that inject electricity into the public network. The implementation of energy storage projects by public entities is subject to public procurement rules, requirements and related regulations.
What is the new legal framework for energy storage?
In order to attract further investment and speed-up implementation, the new legal framework, which was published in the beginning , provides a framework for standalone energy storage, subject to the previous control procedure, and to be owned by third parties who are separate from the power plant developers.
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