Portugal: Portugal has unveiled a $480 M (€400 M) investment package to modernise its electricity grid and significantly expand battery energy storage systems (BESS), following a major Iberian blackout earlier this year.
Portugal will invest $480 M (€400 M) to strengthen grid stability and scale battery storage, aiming for 750 MW of BESS capacity after Iberian blackout.
In addition, an auction for large-scale BESS is planned by 2026, marking a step forward in Portugal’s energy transition strategy. To support critical infrastructure like hospitals, the government will provide $28 M (€25 M) for solar PV and storage installations.
The pursuit of economic viability by storage facility owners will inherently lead to charging during low-cost hours and discharging during hours that are more economically attractive. Storage can replace thermal generation in constraint markets, easing the grid and supporting Portugal’s 2040 phase-out target.
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