Portugal to invest 25 million euros in renewable energies

The Portuguese government will invest 25 million euros (about 28 million U.S. dollars) in renewable energy projects, Secretary of State for Energy Jorge Seguro Sanches said on Sunday.

Applications for these projects can be submitted until December this year, with the target of this competition being technologies that "are not sufficiently disseminated in national territory" and which produce energy.

Types of energies included are wave energy, geothermal energy and biogas among others, according to Portuguese Lusa News Agency.

Those not included are technologies which have already been disseminated including conventional hydraulic energy and solar energy.

"The financing of the project assumes the form of a non-repayable grant, corresponding to the support of the necessary amount to guarantee the economic viability of investments," he said.

The maximum amount granted for each beneficiary is 5 million euros and they must be registered as special regime producers.

This project comes after 2.6 million euros was invested by the government in projects that promote energy efficiency in state buildings and in the residential and services sectors.

Portugal must meet a target of 31 percent of renewables in its gross final consumption of energy in 2020. (1 euro = 1.12 U.S. dollars) Endit