French Company Enters Portuguese PV Market

Reden Solar Acquires 50 MW Operating PV Assets In Portugal To Mark its Entry Into Country’s Solar Power Market
10:48 PM (Beijing Time) - 15. May 2018
cityscape-of-porto-portugal

Reden has entered the Portuguese PV market at a time when a huge pipeline of unsubsidized solar projects has piled up. (Photo Credit: Svetlanatravel/www.goodfreephotos.com)

Key Takeaways

  • Reden Solar of France has entered the Portuguse solar power market
  • It has acquired 50 MW operational PV capacity in the country
  • The French developer also plans to develop solar power projects in Portugal
  • While Portugal's PV market is still small, a gigawatt-scale pipeline of unsubsidized solar plants has piled up

French solar power project developer Reden Solar has entered the Portuguese solar market and acquired 50 MW of operating solar PV assets. The management did not share the location or individual capacity of the projects. Reden is already operating in France and Latin America.

Reden has developed a total of 330 MW to date, out of which 180 MW it developed on its own. In Portugal, the company plans to develop new projects in the future, but did not provide any details.

Reden’s says it decided to enter the Portuguese solar market because of its favorable economic prospects and commitment to renewable energy.

In March 2018, renewables accounted for over 100% of the country’s electricity consumption, with major contribution from wind and hydroelectric power, according to statistics released by Portuguese electricity grid operator REN, reported by Portuguese Renewable Energy Association (APREN).

But solar’s share is still very small in the larger scheme of things. At the end of 2017, Portugal’s total installed PV capacity was only 432 MW, according to APREN. In comparison, wind energy’s installed capacity at the end of 2017 was 5.2 GW.

There is a lot of interest in unsubsidized solar plants in Portugal in the last few years. In April 2016, around 1, 250 MW capacity of solar PV projects were waiting to be awarded a license by the Directorate General for Energy and Geology (DGEG) in Portugal (see Plans for Unsubsidized Solar in Portugal). In late 2017, construction started for the first unsubsidized solar plant in Orique (see Construction of 46 MW PV FAcility in Full Swing). By mid January, DGEG had approved plans for over 750 MW unsubsidized solar plants.

Anu Bhambhani

Anu Bhambhani is the News Editor of TaiyangNews

Write, follow the author.
Email

Anu Bhambhani