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Renewables and New Businesses

The Renewables and New Businesses unit develops a diversified and sustainable portfolio of renewable energy - solar and wind - with a focus on the Iberian Peninsula. It also maps, evaluates and develops business opportunities in the energy space, such as the battery value chain.

Main indicators 2023

  • Renewable energy production. An increase of 21% compared to 2022
    2.3 TWh Renewable energy production. An increase of 21% compared to 2022
  • Renewable generation installed capacity
    1.4 GW Renewable generation installed capacity
  • Renewable generation capacity in operation, construction, and development
    7.1 GW Renewable generation capacity in operation, construction, and development
  • CO2e emissions avoided
    -271 ktonCO2e CO2e emissions avoided

Renewable energy portfolio

Galp is one of the largest producers of photovoltaic solar energy in the Iberian Peninsula, with 1.4 GW of renewable generation installed capacity and 0.2 GW of projects under construction.

In addition to the projects in operation, construction, and development in Portugal and Spain, the company's renewable energy portfolio also includes projects under development in Brazil.

Galp is also developing hybridisation and storage opportunities that contribute to the diversification and resilience of the company's low-carbon portfolio.

Innovation and New Businesses

I

Innovation

Help reshape the energy mix to reach net zero emissions by 2050. This is the goal of Galp's Innovation teams, which are focused on seven areas: 

  • Battery value chain
  • Bioenergy
  • Carbon capture, utilisation, and storage
  • Low emissions hydrogen
  • Energy and cost optimisation
  • Mobility
  • Renewable energy and storage
 Learn about Innovation at Galp
B

Battery value chain

Energy storage technologies, such as lithium-ion batteries, will be key to the energy transition. Portugal and Galp may develop a local and integrated value chain, benefiting from the country's geographical location and its availability of renewable resources and lithium spodumene, as well as the company's experience and skilled labour.

In 2022, Galp and Northvolt set up the Aurora joint venture to develop Europe's largest and most sustainable lithium processing plant in Portugal. The plant will be able to produce up to 35,000 tonnes of lithium hydroxide a year - enough for 50 GWh of batteries or 700,000 electric vehicles.

In addition to lithium processing, Galp is also evaluating the possibility of entering other stages of the battery value chain, such as battery recycling.
C

Corporate Venture Capital

Galp evaluates venture capital investment opportunities in the entrepreneurship and innovation ecosystem for the energy transition. As well as being financially attractive, venture capital investment exposes the company to new technologies, new opportunities, and new business models.

After investing in the platform Energy Impact Partners and the producer of advanced materials 6K, in 2023 Galp invested five million dollars in Verdagy to accelerate the development and commercialisation of an electrolyser module that is less dependant on raw materials than comparable technologies.

Get in touch

  • E-mail | diga.renov@galp.com
  • Phone number, Portugal | (+351) 210 058 850
  • Phone number, Spain | (+34) 917 146 866