Portugal is reportedly planning to install 31 new solar power plants that would possess a total production capacity of more than 1000 MW by the year 2021. The approximate value of these projects have been estimated at about €800 million, cite reliable sources.

Reportedly, Portugal has been successful in generating over 100 percent of its energy needs through clean energy alternatives such as wind and hydroelectric power.

Sources familiar with the development claim that the cost of solar power has dropped drastically over the recent years which has facilitated its easy availability. It is only practical to balance the two energy sources, wind and hydroelectric, with a third which would then form a triad that complement each other.

Portugal’s Energy Secretary of State, Jorge Seguro Sanches, was quoted stating that the nation is hopeful to triple the current solar energy production capacity of 572 MW up to 1600 MW by 2021.

As a result of the rising affordability of energy storage products, such as battery systems, these can now be easily matched with solar power arrays, cite sources.

Portugal has been aiming to run completely on renewable energy. As per a statement released by the Portuguese Renewable Energy Association (APREN) & the Sustainable Earth System Association, the nation achieving 100% energy consumption through renewables and the end of fossil fuel subsidies has a bright future ahead.

The statement further noted that the renewable energy production by 2040 will – in an affordable way – guarantee mainland Portugal’s total annual electricity usage.

Recently the Portuguese government suspended guaranteed power supply subsides worth about €20 million per year which was paid to producers – most of which went to fossil-fuel plants that were left in standby mode.

The nation’s clean energy output reached 4812 GWh in March surpassing the power needs of the month which amounted to 4647 GWh, enabling the country to export excess power. The Portuguese electricity system has an export net balance of 249 GWh which amounts to around €24 million, cite sources.