The cumulative installed capacity for biopower in Portugal was 891 MW in 2020 and is expected to grow at a CAGR of more than 0.5% during 2021-2030. Annual biopower capacity addition increased from 3 MW in 2011 to reach 16 MW in 2020. The market size of biopower projects in Portugal was $48.0 million in 2020. The cumulative number of deals in the biopower sector during the 2012-2020 period in Portugal was approximately 22.

As per the European Union (EU) mandate, the Portuguese government submitted its National Energy and Climate Plan (NECP) 2021-2030 in December 2019. Under its NECP the government has set a target of generating 47% of energy from renewable sources in its gross final energy consumption by 2030. The government also ratified the Paris Climate Agreement in 2015 and aims to achieve net carbon neutrality by 2050. To achieve this the country introduced a long-term plan called ‘Roadmap to Carbon Neutrality 2050’ – Roteiro para a Neutralidade Carbónica (RCN2050), which is in alignment with the goals listed under NECP. It is to be noted that the islands of Azores and Madeira are autonomous regions and set their own energy and climate strategies. The Azores Energy Strategy 2030 (EAE 2030) is currently under development. Onshore wind power had the dominant share in the total renewable power installed capacity of Portugal in 2020. This share is expected to decrease by more than 35% by 2030 owing to an increase in solar PV power shares. The share of solar PV was expected to increase.

Overview of the Portuguese biopower market

For more insights on this report, download a free report sample

What are the market dynamics in the biopower market of Portugal?

The government of Portugal aims to reduce total Green House Gas (GHG) emissions by 45%-55% by 2030 compared to 2005 levels. To achieve its national climate goals, the country looks to gradually phase out coal-fired power plants. In 2020, two coal-fired power plants announced that it will permanently close in 2021. The 1.3GW Sine’s coal power plant closed in January 2021 and the 0.6GW Pego coal power plant is slated to be closed in November 2021. However, the government has indicated that natural gas will be maintained in electricity generation at least till 2040 for energy security.

To support the growth of renewables the country provided Feed-in Tariffs (FiT) which was pivotal in the growth of renewable power plants in Portugal. However, after FiTs were stopped for new power plants in 2012, the country introduced alternative support schemes for small renewable power plants and auctions for large power plants. The first solar PV auction was concluded in 2019 awarding 1.1GW capacity and the second solar PV auction was completed in 2020 awarding 670 MW of solar PV capacity. The government also conducts separate bidding processes for energy storage systems. In 2021, the government announced that the third solar PV auction will be held in September 2021 for 500 MW of floating solar PV capacity and for the first time the government is set to introduce renewable hydrogen H2 auctions by the end of 2021.

What are the different sources in the renewable power market of Portugal?

Onshore wind power has the most dominant share in the total renewable power installed capacity of Portugal contributing to more than 65% share in 2020. This share is expected to decrease to more than 35% by 2030 owing to an increase in solar PV power shares. Solar PV has a significant share in the renewable portfolio of the country. It is expected that solar PV power will lead Portugal’s power market in terms of cumulative installed capacity by the year-end of 2030. Biopower had a share of more than 10% in 2020 which is expected to decrease by 2030. This is followed by small hydro and geothermal power respectively in 2020. Offshore wind power is expected to have a share of more than 0.10% in the total renewable power installed capacity.

Renewable power market in Portugal, by sources

For more segment insights, download a free report sample

What are the different deals in the biopower market of Portugal?

The biopower market recorded a total number of 24 deals (including partnership deals) in 2020. Out of 24 deals, debt offerings had the largest number of deals with a share of more than 40% followed by asset transactions, equity offerings, acquisition, partnerships, and venture financing by the end of 2020.

Portuguese biopower market, by deal type

For more insights on deals, download a free report sample

Which are the companies mentioned in the report?

VENSOL-Energias Renovaveis Lda, Empresa Produtora de Pasta e Papel, and Altri SGPS SA are some of the companies mentioned in the report.

Portuguese biopower market, by key players

To know more about key players, download a free report sample

Market report scope

 Scope

The report analyses Portugal’s biopower market. The scope of the research includes:

• A brief introduction to global carbon emissions and global primary energy consumption.
• An overview of the country’s renewable power market, highlighting installed capacity trends (2010-2030), generation trends (2010-2030), and installed capacity split by various renewable power sources.
• Detailed overview of the country’s biopower market with installed capacity and generation trends, and major active and upcoming biopower projects.
• Deal analysis of the country’s biopower market.
• Key policies and regulatory framework supporting the development of renewables.
• Snapshots of some of the major market participants in the country.

Reasons to Buy

The report will enhance your decision-making capability in a more rapid and time-sensitive manner.

• Identify key growth and investment opportunities in the country’s biopower market.
• Facilitate decision-making based on strong historic and forecast data for biopower market.
• Position yourself to gain the maximum advantage of the industry’s growth potential.
• Develop strategies based on the latest regulatory events.
• Identify key partners and business development avenues.
• Understand and respond to your competitors’ business structure, strategy, and prospects.