Portugal's renewable energy production hit new record in 2023

REN Redes Energeticas Nacionais SGPS SA

02/01/2024 14:48

LISBON, Jan 2 (Reuters) - Renewable power sources
supplied 61% of Portugal's electricity in 2023, up from 49% a
year earlier, hitting a new record thanks to periods of heavy
rains, strong winds and good doses of sunshine, grid operator
REN said on Tuesday.
    The country aims to generate 85% of its annual electricity
from renewable sources by 2030 but it already has one of the
highest ratios in Europe.
    European nations are increasingly betting on renewable
energy, especially after gas prices hit record highs following
the invasion of Ukraine by Russia, which was Europe's top gas
supplier.
    Last year, wind energy accounted for a quarter of all
electricity usage in the southern European nation, while
hydropower made up 23%, solar 7% and biomass 6%, according to
REN. 
    In the natural gas market, consumption dropped 21% from
2022, with 95% of the volumes entering the country via its
deepwater port of Sines and the remaining 5% received through
the interconnection with neighbouring Spain.
     Last month, more than 100 countries at the COP28 climate
summit in Dubai agreed to triple renewable energy capacity by
2030 but they are set to face several challenges, from a labour
shortage to high costs of implementing projects.    

 (Reporting by Catarina Demony; Editing by Andrei Khalip and
Emelia Sithole-Matarise)
 ((catarina.demony@thomsonreuters.com; +351 915 616 444
(Twitter: @CatarinaDemony);))