Finerge invests more than 1Bn€ in Portugal

Finerge, the 2nd major producer of renewable energy, has already made an investment superior to 1Bn€ in Portugal. The company will now shift its traditional focus from wind energy to solar energy as well. Pedro Norton, Finerge’s CEO, revealed that the company will be participating next month in one of the government-promoted solar energy auctions.

“We will grow organically through those auctions, not just in this one but in others to come.”, Pedro Norton assured to ECO during the inauguration of Finerge’s new installations in Matosinhos. “The acquisition of these new installations is part of our corporate strategy as our next bet will be on solar energy.”, the CEO mentioned, adding that the company grew 5.5% and earned about 170 M€ last year.

Finerge owns 44 wind farms “and has grown by acquiring them and will keep growing”, Norton referred. Wind energy is collected from 508 wind turbines and then transformed in 2.12 TW/h of electric energy yearly. This kind of renewable energy saves the planet from 844 tons of CO2 per year.

Finerge’s CEO also mentioned that the company is thinking of expanding to other markets, such as Spain and France, both with wind and solar energy. Like any potential expansion, more human resources will be needed. Currently, Finerge employs 200 people, both directly and indirectly, 35 of whom work in Matosinhos.