LUSA 10/11/2024

Lusa - Business News - Portugal: Greenvolt unveils €40M solar farm focussed on decentralised projects

Tábua, Portugal, Oct. 10, 2024 (Lusa) - The renewable energy company Greenvolt inaugurated on Thursday a photovoltaic plant in Tábua, in the interior of the Coimbra district, in an investment of €40 million, and announced a strong commitment to decentralised energy projects.

"This is the first solar project in Portugal of almost 50 megawatts, which could theoretically feed 60,000 families," said executive chairman João Manso Neto at the inauguration ceremony.

Stressing that it is a large park, but not a gigantic one, the manager was in favour of a "mixture of medium-sized projects and decentralised energy projects, which is an area we use a lot".

The Tábua Solar Photovoltaic Plant occupies an area of over 90 hectares in the parish of São João da Boa Vista, with 90,000 photovoltaic modules, with the capacity to supply 60,000 families, which will prevent the emission of 13,200 tonnes of carbon dioxide (co2) every year.

Speaking to the Lusa news agency, João Manso Neto said that the company's main focus is on decentralised energy to be produced in schools, factories and workshops, "in smaller projects, but with a lot of potential".

He said that Greenvolt currently has a portfolio of projects totalling around 200 megawatts, almost double that of the Tábua plant, which represent a total investment of €140 million.

Internationally, the company led by João Manso Neto makes investment strategies and project models dependent on the country, emphasising that in countries like Poland and Eastern Europe, "there is room for larger projects with batteries or wind".

"Portugal and Spain are a bit congested for large-scale projects, and there are fewer possibilities, but in other countries, there is great potential," he said.

Neto told Lusa that he believed Portugal would have opportunities "sooner than you think, in the battery sector, which the country needs to store energy during the day".

"We believe that this will grow more than expected, and if there is a regulated and attractive remuneration regime, I would say that Portugal has the conditions," emphasised João Manso Neto, noting that the company currently has projects underway in Hungary, Poland and the United Kingdom.

He added that Portugal could not risk "having too much sun at certain times and throwing away energy that cannot be consumed" and could be stored.

In the area of solar renewable energy, Greenvolt is building a solar power station in Águeda, in the Aveio district, slightly larger than the one in Tábua, which will be completed and operational by 2025, representing an investment of €50 million.

AMV/ADB // ADB.

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