Ken Research Logo

Portugal Offshore Wind Energy Market

The Portugal Offshore Wind Energy Market, valued at USD 2.1 billion, is poised for growth with key zones like Viana do Castelo and Sines, focusing on floating wind technology and 2 GW auctions.

Region:Europe

Author(s):Rebecca

Product Code:KRAB4115

Pages:91

Published On:October 2025

About the Report

Base Year 2024

Portugal Offshore Wind Energy Market Overview

  • The Portugal Offshore Wind Energy Market is valued at USD 2.1 billion, based on a five-year historical analysis. This growth is primarily driven by the country's strong commitment to renewable energy, robust government incentives, and increasing investments in offshore wind projects. Portugal’s transition toward sustainable energy solutions has led to a surge in demand for offshore wind energy, positioning the country as an emerging player in the European renewable energy landscape. Recent auctions and policy frameworks have further accelerated market momentum, particularly in floating offshore wind technology .
  • Key offshore wind development zones include Viana do Castelo, Leixões (near Porto), and Sines, which are prioritized due to their strategic coastal locations and favorable wind conditions. These areas host pilot projects and are the focus of upcoming auctions, supported by established energy companies and proactive local policies that enhance their competitive advantage in the offshore wind sector .
  • The regulatory framework for offshore wind in Portugal was formalized by Decree No. 4752/2025, issued by the Secretary of State for the Sea and the Secretary of State for Energy. This instrument establishes a centralized and sequential auction model, streamlines permitting, and introduces incentives for private investment. The framework targets the allocation of 2 GW of offshore wind capacity in the first phase, with medium-scale parks between 400 and 600 MW, and incorporates non-economic criteria such as environmental sustainability and local community engagement .
Portugal Offshore Wind Energy Market Size

Portugal Offshore Wind Energy Market Segmentation

By Technology:The technology segment of the offshore wind energy market includes Fixed-Bottom Offshore Wind Turbines and Floating Offshore Wind Turbines. Fixed-bottom turbines are typically used in shallow waters and have been the traditional choice for offshore wind farms. In contrast, floating turbines are gaining traction due to their ability to be deployed in deeper waters, where wind resources are often more abundant. The increasing adoption of floating technology is driven by advancements in engineering and a growing focus on maximizing energy output from diverse marine environments. Floating offshore wind is particularly relevant for Portugal, given its deep coastal waters and high floating wind potential .

Portugal Offshore Wind Energy Market segmentation by Technology.

By Project Phase:The project phase segmentation encompasses Development & Permitting, Construction & Installation, and Operation & Maintenance. The Development & Permitting phase is crucial as it involves securing necessary approvals and environmental assessments, which can be time-consuming. The Construction & Installation phase is where the actual wind farms are built, while Operation & Maintenance ensures the longevity and efficiency of the turbines. The increasing number of projects moving into the construction phase indicates a robust pipeline for future energy generation, as seen in the recent surge of interest and applications for new offshore wind zones .

Portugal Offshore Wind Energy Market segmentation by Project Phase.

Portugal Offshore Wind Energy Market Competitive Landscape

The Portugal Offshore Wind Energy Market is characterized by a dynamic mix of regional and international players. Leading participants such as EDP Renováveis (EDPR), Ocean Winds, Iberdrola Renovables, Siemens Gamesa Renewable Energy, Vestas Wind Systems A/S, Ørsted A/S, RWE Renewables GmbH, Enel Green Power, GE Renewable Energy, Mainstream Renewable Power, BlueFloat Energy, CorPower Ocean, Principle Power, Acciona Energía, Nordex SE contribute to innovation, geographic expansion, and service delivery in this space.

EDP Renováveis (EDPR)

2007

Lisbon, Portugal

Ocean Winds

2020

Madrid, Spain

Iberdrola Renovables

1992

Bilbao, Spain

Siemens Gamesa Renewable Energy

2017

Madrid, Spain

Vestas Wind Systems A/S

1898

Aarhus, Denmark

Company

Establishment Year

Headquarters

Installed Offshore Wind Capacity (MW)

Number of Offshore Wind Projects (Commissioned & Pipeline)

Project Pipeline Size (MW)

Average Project Size (MW)

Capacity Factor (%)

Levelized Cost of Energy (LCOE, €/MWh)

Portugal Offshore Wind Energy Market Industry Analysis

Growth Drivers

  • Increasing Energy Demand:Portugal's energy consumption is projected to reach 60 terawatt-hours (TWh) in future, driven by economic recovery and industrial growth. The country's commitment to reducing fossil fuel dependency has led to a significant increase in renewable energy sources, with offshore wind expected to contribute approximately 25% of the total energy mix. This rising demand for clean energy solutions is a crucial driver for the offshore wind sector, aligning with EU targets for carbon neutrality by 2050.
  • Government Support and Incentives:The Portuguese government has allocated €1.5 billion in subsidies and incentives for renewable energy projects, including offshore wind, in future. This financial backing is designed to stimulate investment and development in the sector, facilitating the construction of new wind farms. Additionally, the government aims to achieve 10 gigawatts (GW) of offshore wind capacity in future, reinforcing its commitment to sustainable energy and attracting international investors to the market.
  • Technological Advancements:The offshore wind sector in Portugal is benefiting from advancements in turbine technology, with the average capacity of new turbines expected to exceed 10 megawatts (MW) in future. These innovations enhance energy efficiency and reduce the cost of energy production. Furthermore, the integration of digital technologies, such as predictive maintenance and data analytics, is expected to optimize operational performance, making offshore wind projects more economically viable and attractive to investors.

Market Challenges

  • High Initial Investment Costs:The capital expenditure for offshore wind projects in Portugal is estimated at €3 million per MW, leading to total project costs that can exceed €1 billion for larger installations. These high initial costs pose a significant barrier to entry for new developers and can deter investment, particularly in a competitive energy market. Securing financing and managing financial risks remain critical challenges for the growth of the offshore wind sector.
  • Regulatory Hurdles:Navigating the regulatory landscape in Portugal can be complex, with multiple agencies involved in the approval process for offshore wind projects. The average time to obtain necessary permits can take up to three years, delaying project timelines and increasing costs. Additionally, compliance with environmental regulations and impact assessments can further complicate the development process, posing challenges for timely project execution and investment returns.

Portugal Offshore Wind Energy Market Future Outlook

The future of the offshore wind energy market in Portugal appears promising, driven by increasing energy demands and robust government support. In future, the sector is expected to see significant advancements in technology, enhancing efficiency and reducing costs. Furthermore, the growing emphasis on sustainability and environmental responsibility will likely lead to greater public and private investment in offshore wind projects, positioning Portugal as a leader in renewable energy within Europe and contributing to its long-term energy goals.

Market Opportunities

  • Expansion of Offshore Wind Farms:With the government targeting 10 GW of offshore wind capacity in future, there is a substantial opportunity for developers to invest in new projects. This expansion is expected to create thousands of jobs and stimulate local economies, making it a vital area for growth in the renewable energy sector.
  • International Collaboration:Portugal's strategic location offers opportunities for cross-border energy projects with neighboring countries. Collaborations with Spain and other EU nations can enhance energy security and facilitate the sharing of best practices, technology, and investment, further strengthening the offshore wind market in the region.

Scope of the Report

SegmentSub-Segments
By Technology

Fixed-Bottom Offshore Wind Turbines

Floating Offshore Wind Turbines

By Project Phase

Development & Permitting

Construction & Installation

Operation & Maintenance

By Capacity

Up to 50 MW

–200 MW

Above 200 MW

By Location

Viana do Castelo

Leixões

Figueira da Foz

Sines

By Ownership

Public

Private

Public-Private Partnerships

By End-User

Utilities

Independent Power Producers (IPPs)

Industrial & Commercial

By Investment Source

Domestic Investment

Foreign Direct Investment (FDI)

Multilateral Development Banks

By Others

Pilot Projects

Research & Innovation Initiatives

Key Target Audience

Investors and Venture Capitalist Firms

Government and Regulatory Bodies (e.g., Agência Portuguesa do Ambiente, Direção-Geral de Energia e Geologia)

Energy Producers and Utility Companies

Offshore Wind Farm Developers

Environmental NGOs and Advocacy Groups

Marine and Environmental Consultants

Infrastructure and Construction Firms

Insurance and Risk Management Companies

Players Mentioned in the Report:

EDP Renovaveis (EDPR)

Ocean Winds

Iberdrola Renovables

Siemens Gamesa Renewable Energy

Vestas Wind Systems A/S

rsted A/S

RWE Renewables GmbH

Enel Green Power

GE Renewable Energy

Mainstream Renewable Power

BlueFloat Energy

CorPower Ocean

Principle Power

Acciona Energia

Nordex SE

Table of Contents

Market Assessment Phase

1. Executive Summary and Approach


2. Portugal Offshore Wind Energy Market Overview

2.1 Key Insights and Strategic Recommendations

2.2 Portugal Offshore Wind Energy Market Overview

2.3 Definition and Scope

2.4 Evolution of Market Ecosystem

2.5 Timeline of Key Regulatory Milestones

2.6 Value Chain & Stakeholder Mapping

2.7 Business Cycle Analysis

2.8 Policy & Incentive Landscape


3. Portugal Offshore Wind Energy Market Analysis

3.1 Growth Drivers

3.1.1 Increasing Energy Demand
3.1.2 Government Support and Incentives
3.1.3 Technological Advancements
3.1.4 Environmental Sustainability Initiatives

3.2 Market Challenges

3.2.1 High Initial Investment Costs
3.2.2 Regulatory Hurdles
3.2.3 Infrastructure Limitations
3.2.4 Competition from Other Renewable Sources

3.3 Market Opportunities

3.3.1 Expansion of Offshore Wind Farms
3.3.2 International Collaboration
3.3.3 Technological Innovations in Turbine Design
3.3.4 Increased Public Awareness and Support

3.4 Market Trends

3.4.1 Shift Towards Sustainable Energy Solutions
3.4.2 Growth in Hybrid Energy Systems
3.4.3 Digitalization in Energy Management
3.4.4 Focus on Energy Storage Solutions

3.5 Government Regulation

3.5.1 Renewable Energy Directives
3.5.2 Environmental Impact Assessments
3.5.3 Grid Connection Regulations
3.5.4 Feed-in Tariffs and Power Purchase Agreements

4. SWOT Analysis


5. Stakeholder Analysis


6. Porter's Five Forces Analysis


7. Portugal Offshore Wind Energy Market Market Size, 2019-2024

7.1 By Value

7.2 By Volume

7.3 By Average Selling Price


8. Portugal Offshore Wind Energy Market Segmentation

8.1 By Technology

8.1.1 Fixed-Bottom Offshore Wind Turbines
8.1.2 Floating Offshore Wind Turbines

8.2 By Project Phase

8.2.1 Development & Permitting
8.2.2 Construction & Installation
8.2.3 Operation & Maintenance

8.3 By Capacity

8.3.1 Up to 50 MW
8.3.2 51–200 MW
8.3.3 Above 200 MW

8.4 By Location

8.4.1 Viana do Castelo
8.4.2 Leixões
8.4.3 Figueira da Foz
8.4.4 Sines

8.5 By Ownership

8.5.1 Public
8.5.2 Private
8.5.3 Public-Private Partnerships

8.6 By End-User

8.6.1 Utilities
8.6.2 Independent Power Producers (IPPs)
8.6.3 Industrial & Commercial

8.7 By Investment Source

8.7.1 Domestic Investment
8.7.2 Foreign Direct Investment (FDI)
8.7.3 Multilateral Development Banks

8.8 Others

8.8.1 Pilot Projects
8.8.2 Research & Innovation Initiatives

9. Portugal Offshore Wind Energy Market Competitive Analysis

9.1 Market Share of Key Players

9.2 KPIs for Cross Comparison of Key Players

9.2.1 Installed Offshore Wind Capacity (MW)
9.2.2 Number of Offshore Wind Projects (Commissioned & Pipeline)
9.2.3 Project Pipeline Size (MW)
9.2.4 Average Project Size (MW)
9.2.5 Capacity Factor (%)
9.2.6 Levelized Cost of Energy (LCOE, €/MWh)
9.2.7 Project Financing Secured (€)
9.2.8 Local Content Utilization (%)
9.2.9 Grid Connection Success Rate (%)
9.2.10 Innovation Index (Patents, Demonstration Projects, R&D Spend)

9.3 SWOT Analysis of Top Players

9.4 Pricing Analysis

9.5 Detailed Profile of Major Companies

9.5.1 EDP Renováveis (EDPR)
9.5.2 Ocean Winds
9.5.3 Iberdrola Renovables
9.5.4 Siemens Gamesa Renewable Energy
9.5.5 Vestas Wind Systems A/S
9.5.6 Ørsted A/S
9.5.7 RWE Renewables GmbH
9.5.8 Enel Green Power
9.5.9 GE Renewable Energy
9.5.10 Mainstream Renewable Power
9.5.11 BlueFloat Energy
9.5.12 CorPower Ocean
9.5.13 Principle Power
9.5.14 Acciona Energía
9.5.15 Nordex SE

10. Portugal Offshore Wind Energy Market End-User Analysis

10.1 Procurement Behavior of Key Ministries

10.1.1 Ministry of Environment
10.1.2 Ministry of Energy
10.1.3 Ministry of Infrastructure

10.2 Corporate Spend on Infrastructure & Energy

10.2.1 Investment Trends
10.2.2 Budget Allocations
10.2.3 Strategic Partnerships

10.3 Pain Point Analysis by End-User Category

10.3.1 Cost Management
10.3.2 Regulatory Compliance
10.3.3 Technology Integration

10.4 User Readiness for Adoption

10.4.1 Awareness Levels
10.4.2 Training Needs
10.4.3 Financial Readiness

10.5 Post-Deployment ROI and Use Case Expansion

10.5.1 Performance Metrics
10.5.2 Scalability Potential
10.5.3 Long-term Benefits

11. Portugal Offshore Wind Energy Market Future Size, 2025-2030

11.1 By Value

11.2 By Volume

11.3 By Average Selling Price


Go-To-Market Strategy Phase

1. Whitespace Analysis + Business Model Canvas

1.1 Market Gaps Identification

1.2 Value Proposition Development

1.3 Revenue Streams Analysis

1.4 Key Partnerships

1.5 Cost Structure Evaluation

1.6 Customer Segmentation

1.7 Competitive Advantage


2. Marketing and Positioning Recommendations

2.1 Branding Strategies

2.2 Product USPs

2.3 Target Audience Identification

2.4 Communication Channels

2.5 Marketing Budget Allocation


3. Distribution Plan

3.1 Urban Retail Strategies

3.2 Rural NGO Tie-ups

3.3 Online Distribution Channels

3.4 Direct Sales Approaches


4. Channel & Pricing Gaps

4.1 Underserved Routes

4.2 Pricing Bands Analysis

4.3 Competitor Pricing Strategies

4.4 Customer Price Sensitivity


5. Unmet Demand & Latent Needs

5.1 Category Gaps

5.2 Consumer Segments

5.3 Emerging Trends

5.4 Future Demand Projections


6. Customer Relationship

6.1 Loyalty Programs

6.2 After-sales Service

6.3 Customer Feedback Mechanisms

6.4 Engagement Strategies


7. Value Proposition

7.1 Sustainability Initiatives

7.2 Integrated Supply Chains

7.3 Customer-Centric Solutions

7.4 Competitive Differentiation


8. Key Activities

8.1 Regulatory Compliance

8.2 Branding Efforts

8.3 Distribution Setup

8.4 Training and Development


9. Entry Strategy Evaluation

9.1 Domestic Market Entry Strategy

9.1.1 Product Mix
9.1.2 Pricing Band
9.1.3 Packaging

9.2 Export Entry Strategy

9.2.1 Target Countries
9.2.2 Compliance Roadmap

10. Entry Mode Assessment

10.1 Joint Ventures

10.2 Greenfield Investments

10.3 Mergers & Acquisitions

10.4 Distributor Model


11. Capital and Timeline Estimation

11.1 Capital Requirements

11.2 Timelines


12. Control vs Risk Trade-Off

12.1 Ownership vs Partnerships


13. Profitability Outlook

13.1 Breakeven Analysis

13.2 Long-term Sustainability


14. Potential Partner List

14.1 Distributors

14.2 Joint Ventures

14.3 Acquisition Targets


15. Execution Roadmap

15.1 Phased Plan for Market Entry

15.1.1 Market Setup
15.1.2 Market Entry
15.1.3 Growth Acceleration
15.1.4 Scale & Stabilize

15.2 Key Activities and Milestones

15.2.1 Milestone Planning
15.2.2 Activity Tracking

Research Methodology

ApproachModellingSample

Phase 1: Approach1

Desk Research

  • Analysis of government reports on renewable energy policies in Portugal
  • Review of industry publications and market analysis reports on offshore wind energy
  • Examination of environmental impact assessments and regulatory frameworks

Primary Research

  • Interviews with key stakeholders in the Portuguese energy sector, including policymakers and industry leaders
  • Surveys targeting project developers and operators of offshore wind farms
  • Field interviews with environmental consultants and technology providers in the wind energy space

Validation & Triangulation

  • Cross-validation of findings through multiple data sources, including government and industry reports
  • Triangulation of insights from expert interviews with quantitative data from market surveys
  • Sanity checks through peer reviews and expert panel discussions

Phase 2: Market Size Estimation1

Top-down Assessment

  • Estimation of total offshore wind capacity based on national energy targets and installed capacity
  • Segmentation of market size by project type, including fixed and floating wind farms
  • Incorporation of projected growth rates based on EU renewable energy directives

Bottom-up Modeling

  • Analysis of project-level data from existing offshore wind farms in Portugal
  • Cost modeling based on installation, operation, and maintenance expenses
  • Volume estimates derived from energy output and capacity factors of offshore wind turbines

Forecasting & Scenario Analysis

  • Multi-variable forecasting using historical growth trends and policy impacts
  • Scenario analysis based on potential technological advancements and market disruptions
  • Development of baseline, optimistic, and pessimistic forecasts through 2030

Phase 3: CATI Sample Composition1

Scope Item/SegmentSample SizeTarget Respondent Profiles
Offshore Wind Project Developers100Project Managers, Business Development Executives
Energy Policy Makers80Government Officials, Regulatory Analysts
Environmental Consultants60Environmental Impact Assessors, Sustainability Experts
Technology Providers50Product Managers, R&D Engineers
Utility Companies70Energy Analysts, Operations Managers

Frequently Asked Questions

What is the current value of the Portugal Offshore Wind Energy Market?

The Portugal Offshore Wind Energy Market is valued at approximately USD 2.1 billion, reflecting significant growth driven by government incentives, increasing investments, and a strong commitment to renewable energy solutions in the country.

What are the key offshore wind development zones in Portugal?

What regulatory framework governs offshore wind energy in Portugal?

What technologies are used in the Portugal Offshore Wind Energy Market?

Other Regional/Country Reports

Other Adjacent Reports

Belgium Onshore Wind Energy Market

Philippines Solar Photovoltaic Market

Qatar Floating Wind Technology Market

Malaysia Renewable Energy Storage Market

Indonesia Wind Turbine Manufacturing Market

Germany Subsea Cable Installation Market

KSA Marine Engineering Services Market

South Korea Energy Grid Integration Market

Philippines Environmental Impact Assessment Market

Philippines Offshore Energy Consulting Market

Why Buy From Us?

Refine Robust Result (RRR) Framework
Refine Robust Result (RRR) Framework

What makes us stand out is that our consultants follow Robust, Refine and Result (RRR) methodology. Robust for clear definitions, approaches and sanity checking, Refine for differentiating respondents' facts and opinions, and Result for presenting data with story.

Our Reach Is Unmatched
Our Reach Is Unmatched

We have set a benchmark in the industry by offering our clients with syndicated and customized market research reports featuring coverage of entire market as well as meticulous research and analyst insights.

Shifting the Research Paradigm
Shifting the Research Paradigm

While we don't replace traditional research, we flip the method upside down. Our dual approach of Top Bottom & Bottom Top ensures quality deliverable by not just verifying company fundamentals but also looking at the sector and macroeconomic factors.

More Insights-Better Decisions
More Insights-Better Decisions

With one step in the future, our research team constantly tries to show you the bigger picture. We help with some of the tough questions you may encounter along the way: How is the industry positioned? Best marketing channel? KPI's of competitors? By aligning every element, we help maximize success.

Transparency and Trust
Transparency and Trust

Our report gives you instant access to the answers and sources that other companies might choose to hide. We elaborate each steps of research methodology we have used and showcase you the sample size to earn your trust.

Round the Clock Support
Round the Clock Support

If you need any support, we are here! We pride ourselves on universe strength, data quality, and quick, friendly, and professional service.

Why Clients Choose Us?

400000+
Reports in repository
150+
Consulting projects a year
100+
Analysts
8000+
Client Queries in 2022