Renewables & New Businesses

The Renewables & New Businesses unit is key in Galp’s energy transition path and is focused on developing a sustainable and diversified portfolio of renewable energy generation, which can be leveraged by synergies with the Company’s remaining energy business trading activities and promoting the progressive reduction of its carbon intensity. In addition, this unit aims at maximising value creation by taking advantage of the disruptive changes that the energy industry is going through, developing new business opportunities aligned with market trends.

Main indicators

  • Gross operating capacity at 100%
    926 MW Gross operating capacity at 100%
  • Gross operating capacity by 2025 at 100%
    >4.0 GW Gross operating capacity by 2025 at 100%
  • Gross operating capacity by 2030 at 100%
    c. 12.0 GW Gross operating capacity by 2030 at 100%

* considering operating and under development projects

Inovation

Galp is committed to creating the space for innovation within the organisation.

This led to the creation of Innovation Centres and an Innovation Factory. The former are aimed at working together with the different business units to build new products, services or solutions that will generate new revenue/profit streams that will ensure the growth and sustainability of the current businesses (Upstream, Midstream, Commercial and Renewables & New Businesses).

The Innovation Factory is expected to address business opportunities in adjacent markets and often involving new business and/or delivery models. For that reason, it is expected to have its own governance, process, methodologies and space to ensure agility, fast decision making and scalability. The Innovation Factory will also be at the far front of all innovation and organizational methodologies and hold the skills to ensure these methodologies are adopted by the organization and included in all new products/ services development process.
In both cases, innovation will be developed by cross-functional teams and leveraging the input from internal and external partners.

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