Harnessing Portugal’s Floating Wind Potential: Navigating Political Signals and Strategic Opportunities for Offshore Wind Developers

May 18, 2022
 | 
2 min read
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Portugal's Floating Wind Potential is promising, but there are mixed signals for floating offshore wind, as 3-4 GW are announced before election

A fact often forgotten, Portugal has been a pioneer of the floating wind sector, having hosted the Windfloat 1 (2 MW) as far back as 2011, and the even more ambitious Windfloat Atlantic (25 MW) in 2020. Obviously, there is potential in Portugal for a commercial floating offshore wind sector, but is there political commitment to make it happen?

The economic opportunity would be an Iberian supply hub for floating offshore wind, in collaboration with neighboring Spain, to expand on the existing wind manufacturing industry, large ports and shipyards in the area.

Mixed policy signals on offshore wind in Portugal

Although historically there has been limited political signals about support for making a commercial-scale sector, a recent announcement by the former Minister for Environment and Energy Transition set very high ambitions to hold an auction this summer for 3-4 GW of floating offshore wind leases.

Since this announcement in March, a new Portuguese government has taken office. So far there has been no specific mention of an offshore wind framework or auction, but the new government program has increased the ambition of Portugal’s renewable energy targets and states an intention to invest in offshore energy.

This will be an interesting space to watch considering broader European energy security challenges and increasing developer interest in the market.

What strategic opportunities are there for developers in the Portuguese market?

Aegir Insights’ market report on Portugal's Floating Wind Potential and other key Southern European markets cover key angles for offshore wind developers seeking growth opportunities in this important region.

Reach out to us to learn more about Aegir Insights' market intelligence service.

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