Renewables & New Businesses

The new Renewables & New Businesses unit is a clear step for Galp to embrace the energy transition, by developing a sustainable and diversified portfolio of renewable power generation and represents a natural hedge to our Iberian commercial power activities.

Galp aspires is engaged to take an active role in shifting the energy paradigm. With c. 40% of its planned investments to be allocated to projects that promote the energy transition, Galp aspires to anticipate new trends, adapt its portfolio to future needs, explore synergies with its current Iberian activities and by promote a progressive reduction of its carbon intensity while sustaining a track record of value creation.

Additionally, this unit aims to maximize the value created, taking advantage of the disruptive changes that energy markets are experiencing by developing new business opportunities, where Galp has a competitive advantage to grow and scale fast.

Main indicators

2.9 GW generation capacity by 2023
3.3 GW total capacity from 2023*

* considering operating and under development projects

Renewables Galp has been strengthening its power generation, which represents a natural hedge to our Iberian commercial power activities.

New Businesses Galp is working towards identifying and developing opportunities expected to become large stand-alone businesses, in areas related to sustainability, energy transition, transportation, infrastructure and manufacturing.

Innovation Galp is committed to creating the space for innovation within the organisation. This led to the creation of Innovation Centres and an Innovation Factory.

Biofuels Galp's commitment in biofuels production to use residual and sustainable raw materials, aiming to maximize reductions in CO2 emissions. This is one of Galp's ways of contributing to the ongoing energy transition.

Print: