Market Overview
The Portugal wind energy market size reached USD 398.18 Million in 2025. The market is expected to grow to USD 990.51 Million by 2034, exhibiting a CAGR of 10.66% during the forecast period from 2026 to 2034. This growth is driven by strong government policies, clear regulatory frameworks, and financial incentives that encourage investment and support large-scale project development. Additionally, the integration of wind projects with other renewable energy systems enhances grid stability, optimizes efficiency, and boosts long-term sustainability.
Study Assumption Years
- Base Year: 2025
- Historical Years: 2020-2025
- Forecast Period: 2026-2034
Portugal Wind Energy Market Key Takeaways
- The Portugal wind energy market size reached USD 398.18 Million in 2025.
- The market is expected to grow at a CAGR of 10.66% during 2026-2034.
- The forecast period spans from 2026 to 2034.
- Government policies aligned with international directives are fueling the growth by reducing carbon emissions and promoting sustainable energy.
- Portugal aims to install 2 GW of offshore wind capacity by 2030 through a competitive centralized model.
- Hybrid renewable energy systems integrating wind and hydropower enhance grid stability and attract significant investment.
- The country’s largest wind farm project by Iberdrola, valued at €350 million, integrates wind and hydro to boost clean energy and create jobs.
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Market Growth Factors
The wind energy market in Portugal is experiencing rapid growth and has enjoyed substantial government support, reinforced by government policies and renewable energy targets that broadly follow the EU’s carbon emission reduction targets. In a bid to reduce its reliance on fossil fuels, Portugal has placed wind energy on its political agenda, investing in regulation, subsidy and facilitation to reduce risk and speed up projects. The best proof of commitment is 2025’s announcement of a competitive bidding process for the provision of 2 GW of offshore wind by 2030 in line with the PNEC 2030 targets.
Another major driver of growth are hybrid renewable energy systems that combine wind energy and hydroelectricity. They can stabilize the grid by providing energy balancing, and they are more efficient than wind energy alone, with reduced fossil fuel use and increased energy storage capacity via the use of hydropower reservoirs and low-wind periods. This makes renewables more sustainable and scalable, in Portugal, more appealing for investors due to lower risks and higher returns.
Investing in large-scale projects grows the market. In 2024, Iberdrola was granted approval to build the largest wind farm in Portugal at a cost near €350 million. The 274 MW facilities around Vila Real and Braga will be integrated into the Tâmega hydro system, creating 700 jobs. The projects are meaningful for the clean energy transition and development of the wind sector in Portugal.
Market Segmentation
- Component Insights: The market segments by component include turbine, support structure, electrical infrastructure, and others. This classification provides detailed analysis based on various wind energy components.
- Rating Insights: The rating segment is categorized as ≤ 2 MW, >2 ≤ 5 MW, >5 ≤ 8 MW, >8 ≤ 10 MW, >10 ≤ 12 MW, and >12 MW, reflecting the different power capacities of wind turbines deployed in Portugal.
- Installation Insights: Installation is divided into offshore and onshore, covering wind energy projects located in the sea and on land, respectively.
- Turbine Type Insights: The turbine types include horizontal axis and vertical axis, representing the main design types of wind turbines in use.
- Application Insights: Applications are classified into utility, industrial, commercial, and residential, illustrating the various end-use sectors utilizing wind energy.
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Regional Insights
The report covers major regional markets including Norte, Centro, A. M. Lisboa, Alentejo, and others. While the document does not specify a dominant region with explicit statistics, it provides comprehensive regional analysis spanning these key areas.
Recent Developments & News
- June 2025: The Government of Portugal launched its first floating offshore wind auction process by publishing Decree No. 4752/2025, planning to award 2 GW capacity with auction rules to be finalized within six months, marking a major milestone in offshore wind leadership in Southern Europe.
- April 2025: Gazelle Wind Power secured a 10-year TUPEM authorization from Portugal’s DGRM for deploying its 2 MW floating wind R&D demonstrator off Aguçadoura, enabling the installation of its patented lightweight platform under the Nau Azul project that supports offshore wind innovation and job creation.
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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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