- Eurowind Energy secures 11 PV projects in Portugal’s Aveiro district, each with a capacity of 5 MW AC, nearly doubling its solar capacity in the country.
- Projects are set to reach “ready-to-build” status between Q3 2024 and Q2 2025, with acquisition contingent on meeting this stage
- The new capacity will power approximately 36,100 homes and reduce CO2 emissions by over 30,800 tonnes annually as part of a broader diversification strategy in renewable energy.
Eurowind Energy, a major European renewable energy firm, has secured 11 photovoltaic (PV) projects in Portugal. These projects, located in the Aveiro district, will each generate 5 MW AC. This acquisition will nearly double the company’s solar capacity in Portugal.
Most of these projects are organised into 15 MW clusters nearing the “ready-to-build” stage. They should reach this status between Q3 2024 and Q2 2025. The deal with developer Insun includes a condition: Eurowind Energy will only complete the acquisition for projects that meet this stage. This approach helps the company manage financial risks effectively.
Eurowind Energy will add 55 MW to its portfolio if all projects proceed as planned. This increase will power about 36,100 homes and cut CO2 emissions by over 30,800 tonnes annually. This expansion forms part of a broader plan to boost the company’s solar assets in Portugal.
Eurowind Energy operates a PV plant in Alenquer and is developing several smaller solar units. The new projects will almost double the solar capacity installed in Portugal to 120 MW. The company completed extensive negotiations with Insun, a developer with a proven track record of 2.5 GW projects in Portugal and Romania.
Eurowind Energy will soon start a tender process for the Balance of Plant. This process will cover civil, mechanical, and electrical work and grid connection lines. The company plans to begin the tender as the projects approach construction.
This acquisition aligns with Eurowind Energy’s broader strategy to diversify its renewable energy assets in Portugal. The company’s portfolio in the country includes solar, wind, battery storage, and green hydrogen projects, totalling around 1 GW.
Portugal’s energy market is evolving rapidly, driven by supportive public policies and increasing demand for renewable energy. By partnering with local developer Insun, Eurowind Energy gains valuable local expertise, which is crucial for navigating the competitive Portuguese energy market.
The Portuguese energy sector faces challenges related to grid management and the integration of renewable energy. Eurowind Energy’s investment in high-quality solar projects demonstrates its commitment to overcoming these obstacles. The company aims to leverage the growing demand for green electricity and capitalise on the market’s favourable growth prospects.
This acquisition represents a significant step for Eurowind Energy as it expands its footprint in Portugal’s renewable energy market. These projects will enhance the company’s solar capacity, support its diversification strategy, and contribute to Portugal’s energy transition goals.