EU boosts Portugal’s green push with EUR 350 million grant

The European Commission has approved a EUR 350 million grant to support Portugal’s development of renewable energy sources. This funding targets companies that manufacture solar panels, wind turbines, heat pumps, and other critical equipment for clean energy production. The grant aims to accelerate Portugal’s progress towards its goal of achieving 85% renewable electricity by the end of the decade. Portugal has shown progress in clean energy, achieving a weekend powered by renewables in November 2023 and commissioning its second solar-wind hybrid project.