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 space for innovation within the organization, which led to the creation of Innovation Centers and an Innovation Factory.

The Innovation Centers aim to work together with the different business units to create new products, services or solutions that generate new revenue sources that support the sustainable growth of current business units (Upstream, Midstream, Commercial and Renewables ​​& New Businesses).

The Innovation Factory is expected to address business opportunities in adjacent markets and often involve new business and/or delivery models. For this reason, it is expected that the Innovation Factory will have its own organization, processes, methodologies and space to ensure agility, decision-making and scalability.

The Innovation Factory must also be at the forefront of all organizational innovations and methodologies and will have the required qualifications to ensure that these methodologies are adopted by the organization and included in all new product/service development processes.

In both cases, the innovation will be developed by cross-functional teams and taking advantage of the contribution of internal and external partners.

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