Portugal Allocates €100 Million for 43 Energy Storage Projects

Portugal’s Ministry of Energy has allocated €100 million to support 43 energy storage projects, scheduled for completion by the end of 2025. These projects were selected from 79 applications under the country’s Recovery and Resilience Plan (RRP), with eligible projects able to receive up to €30 million in funding. The projects, which can be developed at both transmission and distribution levels, aim to enhance grid flexibility and decarbonize the energy system.

The largest grant, €16.4 million, went to Solara4Phase4, followed by €14.75 million for Revendesol. The funding also includes nearly €20 million for six Iberdrola projects.

This initiative supports Portugal’s goal of 80% renewable electricity by 2026 and 85% by 2030. In 2024, renewable energy contributed 71% to Portugal’s electricity, marking a record 36.7 TWh.

The energy storage projects will help stabilize the electricity grid and contribute to a greener, more sustainable energy transition.