Portuguese environment and energy minister reveals renewables plan at Lisbon Energy Summit & Exhibition

In her opening address at the Lisbon Energy Summit & Exhibition, Her Excellency Maria da Graça Carvalho, Minister of Environment and Energy revealed the Portuguese Government’s strategy for renewables and forthcoming initiatives, marking a significant moment for the nation's energy landscape.

"We are launching today the renewable gases auction that aims to inject 140 million euros over 10 years, financed by the Environmental Fund, to compensate for price fluctuations, in green hydrogen and biomethane projects in important decarbonization projects to improve the circular economy," the Minister said, added "We are still dependent on fossil fuel in the transport sector. The Portuguese Government has a strong ambition to work on this issue."

Among the key announcements was the anticipation of news on offshore wind energy in mid-July, reflecting Portugal’s commitment to expanding its renewable energy portfolio particularly in eolic energy offshore.

The global energy polycrisis                                                                                                                                                                 

The opening panel of the first day, moderated by Maria João Ribeirinho, Senior Partner at McKinsey & Company entitled “Global Energy Strategy Panel: Accelerating the energy transition through supportive policy”, gathered energy leaders to discuss the global polycrisis that has evolved surrounding energy security, affordability and sustainability.

“One size does not fit all in terms of energy mix and policy to ensure energy transition. Different energy mixes are adequate per region in the world considering development stage and natural endowments - leading to a myriad of technologies more mature and more emerging for which R&D investments are key,” Maria João Ribeirinho, Senior Partner at McKinsey & Company said.

Amongst the panellist were Joseph McMonigle, Secretary General at International Energy Forum, Paula Pinho, Director Directorate-General Energy at European Commission, Giulia Chierchia, Executive Vice President, Strategy, Sustainability and Ventures, bp, Joao Faria Conceicao, Chief Operating Officer at REN, and Bianca Dragomir, Director at Cleantech Iberia.

A key take away from the discussion is the opportunities policymakers must remove barriers for approvals, permitting and scale-up of clean energy projects that will facilitate a secure and sustainable energy future. 

Bianca Dragomir, Director, Cleantech Iberia said, “70% of the companies in Europe state that one of the main hurdles is the regulatory fragmentation.”

Echoing Dragomir, Giulia Chierchia, Executive Vice President at bp highlighted, “Policy needs to be at the centre of what we do. Regarding European regulatory measures, we need to find a way to accelerate the transposition of those into the countries regulation.”

Panellists also highlighted the role that the EU Energy Platform has played in coordinating EU negotiations with external gas suppliers to facilitate access to affordable energy and avoid energy supply disruptions, as well as looking at the impact has had at country level and future projections.

“Permitting has been one of the main bottlenecks in deploying energy diversification. Now the keyword is implementation, we already have the legislation and regulatory measures”, “Paula Pinho, Director at European Commission stated.

Meanwhile, Joseph McMonigle, Secretary General, IEF, said “Wind and solar are important, but we should keep an eye on how we solve the energy crisis with new technologies.”

The discussion also underscored the importance of collaborative efforts between government, industry, and civil society to achieve meaningful progress towards sustainable energy goals.

Joao Faria Conceição, Chief Executive Officer at REN emphasised the  urgency to create compensation for the stakeholders.

The Lisbon Energy Summit & Exhibition serves as a premier platform for fostering dialogue, collaboration, and innovation in the global energy sector. With its diverse lineup of speakers, interactive sessions, and cutting-edge exhibitions, the event provides invaluable insights and opportunities for stakeholders to shape the future of energy.

As the Summit continues to unfold, participants can look forward to engaging discussions, networking opportunities, and a showcase of the latest innovations driving the energy transition.

\With a focus on addressing the most pressing challenges facing the industry, the event is poised to catalyse positive change and accelerate progress towards a sustainable energy future.

For more information, visit lisbonenergysummit.com