Market Overview
The Portugal wind energy market size reached USD 398.18 Million in 2025. The market is projected to grow to USD 990.51 Million by 2034, exhibiting a CAGR of 10.66% during the forecast period 2026-2034. Growth is driven by strong government policies, clear regulatory frameworks, financial incentives, and increasing integration of wind projects with other renewable energy systems to enhance grid stability and sustainability.
Study Assumption Years
- Base Year: 2025
- Historical Year/Period: 2020-2025
- Forecast Year/Period: 2026-2034
Portugal Wind Energy Market Key Takeaways
- Current Market Size: USD 398.18 Million in 2025
- CAGR: 10.66% during 2026-2034
- Forecast Period: 2026-2034
- The Portuguese government announced a competitive model in 2025 to install 2 GW of offshore wind capacity by 2030 aligned with PNEC 2030 targets.
- Integration of wind with hydropower enhances grid stability and reliability.
- Iberdrola approved in 2024 to build Portugal’s largest wind farm, a 274 MW project integrating wind and hydro power.
- Regulatory clarity and financial incentives reduce risks and enhance investor confidence.
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Market Growth Factors
The Portugal wind energy market is propelled by strong government policies and renewable energy targets. In 2025, Portugal announced a competitive model to install 2 GW of offshore wind capacity by 2030, aligning with its PNEC 2030 targets. This regulatory framework enhances transparency in bidding and includes commitments to finalize tender rules within 180 days, ensuring investment predictability and accelerating project development.
The integration of wind projects with other renewable sources, especially hydropower, boosts the market growth by enhancing grid stability, balancing power generation variability, and ensuring a reliable clean energy supply. Utilizing hydropower reservoirs complements wind generation during low-wind activity, maximizing natural resource use and reducing dependency on fossil fuels.
Investment is also driven by hybrid renewable systems that create synergies between technologies, presenting lower risks and higher returns for developers and stakeholders. In 2024, Iberdrola’s approval for a €350 million investment to build Portugal’s largest 274 MW wind farm integrated with the Tâmega hydro system exemplifies the commitment to innovative and sustainable renewable energy deployment.
Market Segmentation
- Component: Turbine, Support Structure, Electrical Infrastructure, Others. These cover key elements of wind energy infrastructure.
- Rating: ≤ 2 MW, >2 ≤ 5 MW, >5 ≤ 8 MW, >8 ≤ 10 MW, >10 ≤ 12 MW, >12 MW. Different turbine capacities address various power generation needs.
- Installation: Offshore, Onshore. Includes locations where wind turbines are installed, indicative of different project scales and challenges.
- Turbine Type: Horizontal Axis, Vertical Axis. The report details the distinctions in turbine configurations.
- Application: Utility, Industrial, Commercial, Residential. Diverse end-use sectors leveraging wind energy.
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Regional Insights
The report covers key Portuguese regions including Norte, Centro, A. M. Lisboa, Alentejo, and others. These regions represent the primary markets driving wind energy adoption, reflecting varied geographic and infrastructural potentials without specific numeric dominance data provided.
Recent Developments & News
- June 2025: The Government of Portugal launched its first floating offshore wind auction process publishing Decree No. 4752/2025 for awarding 2 GW capacity, with auction rules to finalize within six months. This is a crucial step for Portugal’s offshore wind leadership in Southern Europe.
- April 2025: Gazelle Wind Power secured a 10-year TUPEM authorization from Portugal’s DGRM to deploy a 2 MW floating wind R&D demonstrator off Aguçadoura, supporting offshore wind innovation and local employment.
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Customization Note
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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