HomeRenewable energy ›Portugal's First Offshore Wind Auction Intends to Expand Over 1 GW

Portugal's First Offshore Wind Auction Intends to Expand Over 1 GW

Through these projects, Portugal is targeting 10 GW of installed capacity and a total outlay of USD 33-44 billion by 2030.

May 31, 2023. By Nivedita Ojha

Portugal's first auction of licenses to construct offshore wind farms, set to be introduced by year-end, is targeted at projects with a total installed capacity of over 1 GW.

Portugal’s government declared a public declaration to plan five areas off the Atlantic coast where wind farms could potentially be constructed.

Through these projects, Portugal is targeting 10 GW of installed capacity and a total outlay of USD 33-44 billion by 2030, though it was not clear how much money the state anticipates from the auction and over what timescale.

The tender will be established for floating wind farms with turbines set up in the deep sea, where winds blow strong to tap more energy than traditional infrastructures onshore.

By the end of 2022, plans for 48 GW of floating wind capacity around the globe were in place, almost twice the amount in the first quarter previous year, as per Fitch Solutions, with European companies steering the expansion.
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