Portugal grants $51.3-mil in incentives to 244.45MW wind projects
London (Platts)--20May2004
The Portuguese economy ministry granted Eur43-mil ($51.3-mil) in "incentives" for 20 wind park projects with a total capacity of 244.45MW Tuesday, as part of a government drive to reduce dependence on oil-fired generation, the economy ministry said. The 129 wind turbines, to be erected in farms across the country, would cost Eur273-mil in total, the ministry said. "The development of renewable energy is essential for the economy, as it reduces dependence on oil," the ministry said, adding that it also helped Portugal meet its environmental obligations. Along with Spain, Portugal's Kyoto targets are among the most distant from its current reality. The incentives awarded Tuesday are part of a wider effort to increase renewable energy capacity by 4.80GW to 9.62GW by 2010. With the country benefiting from strong winds along most of its Atlantic coastline, wind farm capacity is projected grow to 3.75GW by 2010, supplying some 7.50GWh/year. The government hopes total "green" power generation will meet 25.25GWh/year, equivalent to 44% of total power use in the country, by 2010.
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