Iberdrola can still invest another €1.5 billion in Tâmega. It also wants to produce green hydrogen in Sines

  • ECO News
  • 18 July 2022

Iberdrola may invest another €1.5 billion in the Tâmega complex, which will be allocated to wind and solar parks. Company also wants to produce green hydrogen in Sines.

Iberdrola’s president, Ignácio Galán, announced this Monday that investments in the Tâmega gigabattery may double and reach €3 billion “in the coming years”. In parallel, the company also has plans to produce green hydrogen in Sines.

According to Ignácio Galán, Iberdrola’s €1.5 billion investment in the three dams and hydroelectric plants in Tâmega – Gouvães, Daivões, Alto Tâmega – may double, and the remaining amount will be allocated both to solar plants already under development or construction and also to new wind farms. With wind energy, Iberdrola’s president spoke of a 450 megawatt (MW) project in the Tâmega area.

The information was revealed during the inauguration of the Tâmega Eletroproducer System, which already has two of the three dams – Gouvães and Daivões – concluded. The ceremony took place at the infrastructure of the complex, in Ribeira de Pena, in Vila Real district.

On the same occasion, Galán introduced that green hydrogen is another path to be taken by the company on Portuguese soil. “In Sines we already have land for manufacturing and exporting green industrial products from green hydrogen,” he said.