The French company Akuo has confirmed a plan to invest one billion euros in the country by 2032, with the goal of building one gigawatt of capacity through solar, wind and battery storage projects.

Akuo, now owned by the French investment fund Ardian, has underlined that Portugal remains a strategic priority. The company already operates the Santas solar plant in Monforte with 180 megawatts of installed capacity and is currently adding 45 megawatts of wind power to create a hybrid system with a total of 225 megawatts. Meanwhile, in Gavião, the Margalha plant is expected to be completed by the end of 2025 and will begin operations in the first quarter of 2026 with a total capacity of 147 megawatts.

In addition to these large-scale projects, Akuo is also investing in innovation. At Alcobaça, the company is developing an agrivoltaic project supported by the Recovery and Resilience Plan, where solar panels coexist with local apple orchards. This initiative demonstrates how renewable energy can integrate with agricultural traditions, creating value for both the environment and the community.

The company has also been active in battery storage, securing public funding for projects connected to the Santas and Margalha plants. To further strengthen ties with local communities, Akuo launched a crowdfunding campaign for the Santas plant, successfully raising the full five million euros targeted. According to the company, sharing the benefits of these projects with residents is a key part of its long-term vision.

Looking ahead, Akuo has signaled interest in Portugal’s upcoming offshore wind auction but is waiting for the final rules to assess whether participation will be viable. Not all projects have progressed smoothly, however. The Polvorão plant, planned for the municipalities of Gavião and Nisa, is currently suspended following a legal challenge by the Public Prosecutor’s Office. The case concerns licensing issues related to environmental and land-use regulations, including compliance with the Natura Network and local planning instruments.

Despite this obstacle, Akuo remains confident in its projects and in the regulatory process. With a diversified portfolio that combines solar, wind, storage and community-based initiatives, the company is positioning Portugal as a central platform in its international strategy. The billion-euro investment highlights the country’s growing importance in Europe’s energy transition and underlines its capacity to attract large-scale projects with global impact.

Disclaimer: This article has been written with the assistance of AI.

Author

Paulo Lopes is a multi-talent Portuguese citizen who made his Master of Economics in Switzerland and studied law at Lusófona in Lisbon - CEO of Casaiberia in Lisbon and Algarve.

Paulo Lopes