- Melinda Murphy
Spared from the ravages of COVID-19 suffered by her neighbor Spain, Portugal is aiming to leap, rather than tip-toe, out of their lockdown initiatives by launching a series of clean energy projects that could generate 5.5 billion euro in European energy investment.
The new solar-powered hydrogen plant near the port of Sines is a modern “green” hydro-electric project that generates electricity through a process called electrolysis, and it could contribute 1 gigawatt of power by 2023 if investment arrives.
“The economy cannot grow along the lines of the past and our post-coronavirus vision is to create wealth from projects that reduce carbon emissions and promote energy transition and sustainable mobility,” Portugal’s Minister of Environment and Energy Transition, Joao Matos Fernandes, told Reuters.
Fernandes detailed that both Portuguese energy firms, and Dutch firms are already showing interest in the hydrogen plant, and it is shaping up to be one of the biggest industrial projects and opportunities in the country.