Portugal News

 

Gazelle Secures Multi-Million Funding for Floating Wind Demo

May 30, 2025

Gazelle Wind Power, a Dublin-based floating wind developer, has closed a $2.26 million (€2 million) investment with Banco Português de Fomento (BPF) to support further development of its floating wind technology and projects.The investment with BPF has been secured through the Deal-by-Deal Co-Investment Programme, in partnership with Indico Capital Partners.According to Gazelle, it will enable the company establish itself as a strategic player in the global renewable-energy landscape…

Galp Secures Three Exploration Blocks in Brazil

Jun 18, 2025

Portugal's Galp has been awarded three offshore blocks as part of Brazil’s fifth Open Permanent Concession bid round.Galp acquired offshore early-stage exploration blocks P-M-1670/1672/1741 in the Pelotas basin, in the southern region of the country…

Galp Targets 40% Oil Production Boost in Brazil with New Field

May 29, 2025

Portugal's Galp expects to boost its oil and gas production in Brazil by around 40% over the next few years, when the promising offshore field Bacalhau reaches peak output, executive board member Nuno Bastos told reporters.Galp produces 110…

Navantia Seanergies Delivers Second Substation Jacket for French OW Farm

May 23, 2025

Navantia Seanergies, Spanish shipbuilder Navantia’s green energies division, has delivered its second substation jacket for Ocean Winds for the offshore wind farm at Dieppe Le Tréport in France.The jacket departed from the south basin of the Puerto Real shipyard…

CorPower Ocean to Develop 5MW Wave Energy Farm off Scotland

May 14, 2025

Swedish wave energy developer CorPower Ocean has signed a berth agreement to build a 5 MW wave energy project at the European Marine Energy Centre (EMEC) in Orkney, Scotland.Scheduled for deployment in 2029, the 5 MW array is expected to become the UK’s largest wave energy project…

EDP Renovaveis Expects Core Recurring Profit in 2025

May 08, 2025

EDP Renovaveis, the world's fourth largest wind energy producer, said on Thursday it expects core recurring profit to grow 13% in 2025 on the back of a solid operational performance, despite a 24% drop in net income in the first quarter.The…

Galp Reports 29% Profit Fall

Apr 28, 2025

Portugal's Galp Energia reported a 29% drop in adjusted first-quarter core profit on Monday, hit by falling oil output and a decline in refining margins to less than half the levels booked a year ago.Adjusted earnings before interest, taxes…

Gazelle Gets Clearance for Floating Wind Demonstrator off Portugal

Apr 11, 2025

Gazelle Wind Power, a Dublin-based floating wind developer, has secured a 10-year TUPEM (Titulo de Utilizacao Privativa do Espaco Marítimo) authorization, clearing the way for the deployment of its 2 MW Nau Azul floating wind demonstrator project off Portugal…

Liebherr Equips Agogo FPSO with Two Offshore Cranes

Apr 04, 2025

Crane specialist Liebherr has supplied two offshore cranes to Yinson Production, which will support the operations of Agogo floating production storage and offloading unit (FPSO) at Azule Energy’s field offshore Angola.Two offshore cranes of…

CorPower Ocean, NTNU Join Forces for AI-Based Wave Energy Project

Mar 18, 2025

CorPower Ocean has secured financial backing from Vinnova, Sweden’s national innovation agency, for a project exploring the adoption of artificial intelligence (AI) for improved performance and control in wave energy technology.The WACE project…

Eco Wave Power Starts Infrastructure Preps for Portuguese 1MW Wave Project

Feb 28, 2025

Eco Wave Power has started critical infrastructure enhancements for its planned 1MW wave energy project in the city of Porto in Portugal.The Porto project, Eco Wave Power's first MW-scale wave energy venture in the country, is expected to be finalized during 2026…

European firms exposed as Trump targets US offshore wind

Jan 21, 2025

U.S. President Donald Trump in his first day of office on Monday suspended new federal offshore wind leasing pending an environmental and economic review, saying wind mills are ugly, expensive and harm wildlife.Former President Joe Biden supported the offshore wind industry…

Israeli Firm Hires Assistance to Advance Portuguese Wave Energy Project

Jan 13, 2025

Eco Wave Power has engaged Portuguese engineering firm MOQ Engineering to perform the final design and load calculations for its wave energy project in Portugal’s city of Porto.The collaboration with MOQ will focus on delivering the final civil…

Portugal Selects Four Offshore Wind Farm Sites Ahead of Auction

Jan 10, 2025

Portugal's government has approved four areas in the Atlantic Ocean where offshore wind farms can be installed, moving a step closer to launching the first licensing auction of offshore capacity, which it plans this year.Two of the areas are off the coast of Viana do Castelo in northern Portugal…

Galp Launches Investigation Into Alleged CEO's Conflict of Interests

Jan 06, 2025

Portuguese oil company Galp Energia is investigating an anonymous complaint about an alleged personal relationship between Chief Executive Filipe Silva and a company manager, economic website ECO reported on Saturday.Galp's ethics committee…

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