The Portuguese government has selected 37 consortiums interested in building production units of green energy in the country.
Portugal is preparing an application to Europe's Important Project of Common European Interest (IPCEI) scheme for hydrogen, which could help speed up renewable hydrogen projects in polluting sectors.
The country's environment ministry received 74 expressions of interest, but only 37 projects, representing a total investment of around nine billion euros, passed to the next phase.
Portugal's utility EDP-Energias de Portugal, oil group Galp, and holding company REN were among those who announced being the selected consortiums.
In April, Environment Minister Joao Matos Fernandes revealed that Portugal aims to build a solar-powered hydrogen unit near the port of Sines, which could attract up to 5 billion euros of private investment.
It is expected to start in a year.
The goal is to extract hydrogen from water using electrolysis, which is carbon-free if powered by renewable electricity.
However, economists and energy experts warned that the government's hydrogen strategy would cost twice or thrice more than to produce energy using natural gas.


UK Economy Grows 0.1% in Q3 2025 as Outlook Remains Fragile
Platinum Price Surges Past $2,000 as Demand and Supply Dynamics Tighten
Silver Prices Hit Record High as Geopolitical Tensions Fuel Safe-Haven Demand
IMF Reaches Staff-Level Agreement With Egypt, Opening Path to $3.8 Billion in Funding
Oil Prices Steady in Asia but Headed for Weekly Loss on Supply Glut Concerns
Global Demand for Yuan Loans and Bonds Surges as China Pushes Currency Internationalization
Asian Stocks Rise as Wall Street Tech Rally Lifts Markets, Yen Slumps Despite BOJ Rate Hike
U.S. Dollar Slips as Yen Finds Support on Intervention Signals and Geopolitical Risks Rise
Oil Prices Ease in Asia as Geopolitical Risks Clash With Weak Demand Outlook
China Keeps Benchmark Lending Rates Steady as Economic Outlook Remains Cautious
Wall Street Ends Higher as S&P 500, Nasdaq Extend Gains Ahead of Holiday Week
Trump Defends Economic Record in North Carolina as Midterm Election Pressure Mounts
Global Markets Rise as Tech Stocks Lead, Yen Strengthens, and Commodities Hit Record Highs
Yen Stabilizes Near Lows as Japan Signals Readiness to Intervene Amid Dollar Weakness
U.S. Stock Futures Rise Ahead of Holiday-Shortened Week as AI Optimism Lifts Tech
EU Approves €90 Billion Ukraine Aid as Frozen Russian Asset Plan Stalls
Why U.S. Coffee Prices Are Staying High Despite Trump’s Tariff Rollbacks 



