Portugal Announces Auction for 262-Megawatt Floating Solar PV Project
João Pedro Matos Fernandes, Minister of Environmental and Climate Action of Portugal, has announced the launch of an auction for 262-megawatt (MW) floating solar photovoltaic (PV) capacity to be installed at seven dams across the country. The project is expected to be fully operational by 2023. The auction will take place on April 4, 2022, allowing prospective bidders to submit proposals no later than March 2, 2022.
It is important to mention that Portugal has achieved progress with its decarbonization goals since the last coal-fired power plant was recently shut down, making Portugal the fourth country in the European Union to switch its power generation to electricity. In addition, it is important to highlight that this project can be beneficial for the solar sector, as it may attract foreign investors and improve the country's environment and energy efficiency.
With our network in Europe, including Portugal, Holland & Knight's Energy Team can provide advice to potential U.S. power generation investors interested in this tender.
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