Portugal’s aims to be fully carbon neutral by 2045 have been ramped up this week, as they more than double their plans for solar and hydrogen energy by 2030. This falls alongside their goal of also decommissioning all natural-gas power plants by 2030. This new target is part of an updated draft of Portugal’s climate and energy goals, requested of all EU countries by Brussels for them to outline how they expect to help EU energy projects.
Portugal’s new 2030 targets are now set to reduce greenhouse gas emissions by 55% from 2005 levels – this is an increase of 10% above their previous goal.
The Portuguese government forecasts that the overall installed renewable energy capacity will rise to 42.8 gigawatts (GW) by 2030, up from a target of 27.4 GW in the previous plan, and 2.5 times more than the capacity in operation last year. In total, this will need an estimated 75 billion euros in green energy funding.
Portugal aims to have 85% of it’s annual electricity sourced from renewable sources by 2030. It is currently sitting at 60%, one of the highest in Europe.
Despite this positive from Portugal, the EU overall is currently set to miss its 2030 climate change targets. This is due to uncertainty around whether there are sufficient funds being invested in its planned projects.
However, the country still boasts an impressive renewable energy résumé, with its solar capacity expected to reach 21GW by 2030. Green hydrogen production is set to hit 5.5GW and its wind targets are to hit 10.4GW by 2030.
As long as the supply continues and their targets remain achievable, they are on track to slash their capacity for natural-gas power plants to 3.8 GW in 2030, down from its current 5GW in 2022.
With Portugal spearheading the way in Europe for a carbon neutral changeover, the time for others to follow suit is now. Hydrogen energy could be the key in this, as a new and previously overlooked renewable energy alternative. The REI provides expert training in hydrogen energy, whether that is developing hydrogen projects or management of renewables. Our Hydrogen Energy Consultant Expert Certificate can provide businesses with all they need to begin the transition to renewable energy alternatives.