The Portugese government will make a major announcement today – a "mega-plan" for renewable energy, a National Energy Strategy. The goal is reduce dependence on oil and lower greenhouse gas emissions.
Portugal uses oil for 58% of its electricity, one of the highest rates in the EU.
The plan is expected to cost 3.62 billion euros and create 2,630 renewable energy jobs. It includes supports for a variety of renewable energies: wind, wave, solar and biomass.
It will support development of new technology, create industry clusters, and contains tax incentives for biomass plants and 100 megawatts of biomass generating capacity.
A centerpiece of the plan is the creation of an energy certificate for buildings and making it manditory to install solar panels.
The government plans to set up a pilot zone for wave power and simplify the licensing process for projects in the sector.
In another development, Agni Inc of Malaysia announced it will invest 65 million euros to build a fuel cell battery plant in Portugal.
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