New Businesses

Galp is actively seeking and developing opportunities to adapt its portfolio to market trends, increasing its competitiveness and reducing the carbon footprint, as part of the Company’s energy transition strategy. The Company intends to pursue projects that fit its decarbonisation and electrification roadmap, with scale up potential and which have clear synergies with Galp’s current portfolio, representing adjacent solutions. Partnerships will be key in such developments.

Green hydrogen

Galp is analysing the production of green hydrogen, one of the most efficient solutions to address the challenges related to the decarbonisation of hard-to-abate sectors.

The Company is in a privileged position to develop green hydrogen, capturing the full potential of its Sines energy hub, mobility customers, renewable generation and leveraging its industrial skills.

Galp is pursuing a 100 MW electrolyser development in a first stage and expecting to expand it throughout the decade to 0.6-1.0 GW as business cases are proven, allowing the entirely replacement of Sines’ current grey hydrogen consumption by green.

Li-ion battery value chain

Electrification will be key to promote Europe's ambition of net zero emissions by 2050 and storage will play a fundamental role paving the way for a sustainable transition, as the EU aims to become a leading geography in lithium-ion battery production and electric mobility.

Galp is assessing opportunities in the fast-growing lithium-ion batteries value chain, namely the development of a 25 kton lithium carbonate equivalent processing facility in Portugal. The Company is developing key partnerships and off takers and building internal capabilities.