Renewable Energy: Portuguese green solutions for a clean world INNOVATING PORTUGAL, more than you imagine Canary Wharf, 3 rd June 2010
“Portugal is not in same boat with Greece. This is very visible when we look at the facts and figures. Portugal is not Greece", Jean-Claude Trichet - President of the European Central Bank (ECB) “Comparisons between Greece on the one hand and Spain and Portugal do not reflect reality. Economies of Spain and Portugal's are not comparable to that of Greece”, Angel Gurria - Secretary General of the Organization for Economic Cooperation and Development. “The financial situation in Spain and Portugal is not comparable to that in Greece. We don't see the cases of Portugal and Spain as comparable to Greece" , German Finance Ministry spokesman. “Portugal is in a totally different situation than Greece. Greece is much more oriented to the Eastern part of Europe, to the Balkans, Portugal is in the crossroads of the southern emerging countries” , Ricardo Salgado - Chairman of Espirito Santo Financial Group [ESFG] and director at NYSE Euronext. According to the IMF, the Portuguese banking system has weathered the global financial crisis relatively well, reflecting pre- existing strengths. Portuguese banks’ borrowings from the Central Bank amount to less than 2% of banks’ assets. This is below the levels observed in France, Spain, Germany and Greece.
Country’s strenghts (in numbers) 9.4% of GDP in 2009 (compared with 12.7% in Greece) 85% of GDP 2010 (compared with 124% in Greece) Tough fiscal measures: Between 2005 and 2007, Portugal cut its budget deficit in half, from 6.1% of GDP to 2.6%. Portugal had lowered the deficit to 2.8% of GDP, in an environment of moderate growth. A four-year austerity programme to chop the budget deficit again, this time to 2.8% of GDP in 2013, has been adopted. Age-related public spending will rise by only 2.9% of GDP in Portugal over the next 50 years (compared with a euro-area average of 5.1% and a startling 16% in Greece) In the EU context, Portugal is well placed in what concerns public debt affordability and sustainability. Activity indicators are suggesting an exports-based recovery in 2010-2011. GDP could rise close to 0.6% in 2010 (after -2.7% in 2009).
Core competitive advantages: • Modern country in transition from low-cost manufacturing to knowledge-based industries. • In five years, Portugal has become a European leader in renewable energy. It has also cut civil- service jobs from 747,000 to 675,000. It sends some 35% of its young people to university. • It is investing over 1.5% of GDP in research, much more than Spain. At the same time, however, Portugal is losing some of its EU structural funds to the club’s newer, poorer members from Eastern Europe. • Higher growth in the future come from improved confidence from fiscal consolidation; • An expansion of the relevant market of the economy, mainly to Africa and Latin America, taking advantage of historical and cultural ties, as well as of geographic proximity (and acting as a bridge to these emerging economies);
Renewable Energies
Renewable Energy “Alternative energy is a future idea whose time is past. Renewable energy is a future idea whose time has come.” Bill Penden, in Atlas World Press Review, 1977 Evolution of energy produced in Portugal from Renewables sources (Pequena Central Hidroeléctrica) Source:Direcção- Geral de Geologia e Energia
Renewable Energy Strategic Priorities • Reduction in overseas dependency by an increase in production (diversification of Guarantee of a reliable primary resources) and in the promotion of supply energy efficiency • Reduction in gas emissions that cause a Use of environmental Greenhouse effect processes • Development of an industry that supplies Encourage company equipment and services – incentives to competition, competitive- innovation ness and efficiency
Renewable Energy Main areas of activity • Liberalization of the gas and electricity markets • Development of an operator to transport gas and electricity – REN • Promotion of developments in renewable energies • Focus in wind power – wind power cluster in Viana do Castelo • Portuguese Reservoir Plan with a High Potential for Hydro Power • Valuation of biomass • Increase the use of solar energy • Incorporation of bio fuels • Leader in wave energy • Implementation of a plan to increase energy efficiency - Portugal Eficiência 2015
Renewable Energy Some results obtained: Wind energy in focus Potência eólica instalada (MW) Alemanha 23.902 Espanha 16.740 Itália 3.736 França 3.404 R. Unido 3.241 Dinamarca 3.180 Portugal 2.862 Potência eólica instalada (MW) por milhão de habitantes Dinamarca 578,2 Espanha 367,9 Alemanha 289,0 Portugal 269,2 Itália 62,7 França 54,6 R. Unido 52,8 Fonte: EWEA – Annual Report 2008 e EIU
Renewable Energy Renewable objective to 2010 (Directive 2001/77/CE) Exceed the target of 39% established by the Directive The Portuguese and achieve, in 2010, a RES 100 Government intends to contribution of 45% in total exceed the objectives electricity consumption defined for 2010 (Decision Jan 2007) 80 do total de energia eléctrica In 2009 the With a target of 39% Portugal 60 RES contribution in undertook the 3rd most ambitious total electricity objective of the EU 15 for consumption renewables 40 78.1 reached 45,9% in 60 Portugal % 39 20 31.5 29.4 29 25 21 20.1 13.2 12.5 10 9 6 5.7 0 ark ingdom Finland France reece Ireland any elgium bourg ortugal pain Italy etherlands ustria eden enm Germ S w G Luxem A B P nited K S D N U Source: Directive 2001/77/CE, Ministery of Economy and Innovation,General Directorate for Geology and Energy; Council of Ministers Resolution nº1/2008
Renewable Energy +9,7% +2,3% Evolution of installed power in RES +65,2% 12.000 +10,3% Strong growth of the installed capacity for electricity production from 9.000 Renewables’ sources � 2008: 8.151 MW MW (+63% than in 2003) 6.000 � Oct. 2009: 8.909 MW Change compared to November 2008: 3.000 Wind: + 685 MW Biomass:+ 54MW Fhotovoltaic:+ 26MW 0 2003 2004 2005 2006 2007 2008 Out-09 Hídrica Eólica Biom assa RSU Biogás Fotovoltaica Ondas/Marés • Hydro: 54% of power installed in RES in October 2009 • Wind: 39% of power installed in RES in October 2009 Increae average annual rate between 2003 and 2009 Source: General Directorate for Geology and Energy +x%
Renewable Energies Focus in Wind Power: Reinforce current capacity Under license and Present capacity Objectives construction 6.000 M W 600 600 450 1.700 4.000 +29% +56% +95% 1.292 5.100 4.700 2.000 2.108 1.637 1.047 537 0 2004 2005 2006 2007 Authorized Tender Equipment 2010 2012 and under upgrade construction Between 2004 and 2012, the capacity increases 960% Source: General-Direction of Geology and Energy
National Energy Plan ENE 2020
European Plan for 2020 Inteligent, Sustainable and Inclusive Growth 1 st phase aproved by the European Council (25 and 26 March 2010) Employment 75% of Workforce (between 20 and 64 years old) R&D 3% of European GDP Climate 20% Reduction of Greenhouse gaz compared with 1990 Change/Energy 20% of energy from Renewable sources 20% of increase on energy eficiency Better and longer formal education Education Targets to be set by the European Council in June 2010 Social inclusion and poverty reduction Targets to be set by the European Council in June 2010
National Energy Plan ENE 2020 – Targets Approved by the Portuguese Government on 18 March 2010 • To reduce our total energy dependence to 74%, ie less 60 million oil barrels per year Reduction of Energy dependence • To reduce the input balance by 25%,ie, 2,000 million Reduction of our external deficit Euros/year by 2020 for energy goods and services • To guarantee that 60% of electricity is produced from To fulfil the agreements in renewable sources combating climate change • To reduce energy consumption by 20% stipulated by the EU • To reach a GVA of 3,800 million Euros Consolidation of the renewable • To create a further 100,000 jobs energy cluster • To create 21,000 jobs Consolidation of the cluster • Investment of 13,000 million Euros by 2020 associated to energy efficiency • Exports of 400 million Euros Note: The above targets are for 2020 Source: MEID and Announcement from Portuguese Government - 18 March 2010
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