Renewable energies have been a strong focus for several countries, including Portugal. Taking into account last year’s figures, electricity production using fossil energy (gas and coal) has reached historic lows. On the other hand, more and more wind and solar power plants are being installed in recent years.
According to recent data from Bloomberg NEF (New Energy Finance), last year alone 75% of the new installed energy capacity worldwide came from green sources. This means that only 25% was derived from fossil energy.
The majority of the new plants installed (45%) were based on photovoltaic technology, largely thanks to technological advances that have allowed to reduce production costs. The solar continues to walk at a stride, already being the fourth largest source of energy globally. However, still behind coal, gas and water, reveals the Jornal Económico.
Portugal has made a huge investment in the area of renewable energies. Recently, a new world record was achieved with the price of 11.14 euros MW-hour (MW/h), in the fixed price mode.
According to the Ministry of Environment and Climate Action, Hanwha Q-Cells was the winner of this second solar auction. The auction took place on August 24th and 25th, both in number of lots (six) and in awarded capacity (total of 315 MW).
The value obtained in this auction was 11.14 euros per MWh, thus surpassing the record set last year, which was 14.76 euros per MWh. The price practiced in Mibel (Iberian electricity market) in recent months has fluctuated between 40 and 45 euros per MWh.
Denmark is the world leader in the production of energy from the sun and wind (with 55% of the total) and Portugal stands out in fourth place in the”ranking with 28%. In second place is Ireland (33%) followed by Uruguay (32%). In the fifth position is the United Kingdom (28%).