How much money does Portugal need to modernise its electricity grid?

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.

What will Portugal's energy transition look like in 2026?

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.

How much will Portugal invest in battery storage after Iberian blackout?

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.

Will Galp's Bess projects play a role in the Iberian grid?

This builds on Galp’s earlier 5MW/20MWh project in Portugal, developed with Powin and Hitachi before Powin entered administration. With the ability to deliver multiple ancillary services, Galp is positioning these BESS projects to play a pivotal role in the Iberian grid as renewables expand.

Which countries have a new energy storage incentive program?

Spain recently launched a €700 million energy storage incentive program, while Portugal announced an additional €400 million investment last week aimed at boosting grid stability and BESS deployment.

Does Portugal have a Bess project?

Portugal currently has only 13 MW of operational BESS capacity but aims to scale to 750 MW. A notable step includes Galp’s 5 MW / 20 MWh project launched in April, developed by Powin. An additional $114 M (€100 M) from the EU’s Recovery and Resilience Plan (RRP) will fund 500 MW of BESS across 43 selected projects.