Portugal awards grants to 500 MW of energy storage projects

Lisbon: Portugal’s Ministry of Energy has announced that it has allocated €100 million ($104.2 million) to 43 energy storage projects which should be installed by the end of 2025.

A total of 79 applications were vying for grant support secured under the country’s Recovery and Resilience Plan (RRP). Eligible projects were in line for up to €30 million and allowed to be developed both at the transmission and distribution levels.

The tender was launched in August 2024 and preliminary results were released last week. The Minister of Environment and Energy, Maria da Graça Carvalho, said on the occasion that the number of applications submitted reflects the success of the scheme.