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Lisbon, Portugal, July 10th - Akuo an independent global renewable energy power producer and developer, is launching the construction of its SANTAS solar project (180 MW) after signing of the financing documentation.

One of the largest solar plants in Portugal

With an installed capacity of 180 MWp, the Santas solar plant is set to become one of the largest solar power plants in Portugal. The plant will comprise 336,448 photovoltaic modules and will help avoid the emission of more than 70,000 metrics tons of CO2 per year. Providing power to more than 100,000 households, the Santas solar plant will turn Monforte (more than 3,000 inhabitants) and Borba (more than 7,000 inhabitants) into positive energy municipalities.

A long-term player to serve territories

Akuo is ensuring a lasting presence by signing very long project term leases and thus providing the territories with the opportunity to genuinely empower each and every stakeholder. In addition to the solar project, the Akuo Foundation has already launched its support to the Montforte citizens through a mental disease program tailored to Monforte’s needs.

The rest of the portfolio is meant to start construction later in 2023, totalizing more than 500 MW.

Portugal, the new reference for the development of renewable energies in the European Union

Portugal’s government has just revised its energy and climate plan for 2030, increasing its green capacity target by 50% to 42,8 GW. By 2030, renewables in Portugal would cover 85% of power generation. According to the revised plan, photovoltaic would reach 20,4 GW. It currently has 2 GW of solar.

Eric Scotto, President and co-founder of Akuo, states: “When we won the auction back in 2019, the entire sector was struck by our audacity. Thanks to an amazing teamwork with our partners, we can now build this project at the service of Portuguese citizens: a reliable, green and cheap source of energy that will contribute not only to Portugal energy’s objectives but also its energy independence. One must acknowledge the Portuguese government has always been bold and supportive and we can only but thank them for their vision and trust.”