The financing announced involves the production of renewable energy, energy storage, self-consumption, and renewable energy communities, according to a statement by the Ministry of Environment and Energy on the last directive of the year from the Environmental Fund, managed by the Climate Agency, to achieve full implementation of the allocated support by the end of the year.
The Ministry also highlights a new phase for purchasing electric cars to replace combustion engine vehicles.
In addition to supporting the electro-intensive sector, promoting the competitiveness of Portuguese industry, the budget of the Portuguese Environment Agency is reinforced with an additional 5.7 million euros to fund more projects for climate adaptation and response.
The Institute for Nature Conservation and Forests increases its budget by half a million euros for projects on nature conservation, biodiversity, and forests, and the LIFE Project Guarantee Fund, mainly aimed at Non-Governmental Organizations, has increased by one million euros compared to the original budget, now totaling over 1.6 million euros, the Ministry announced.
The Minister of Environment and Energy stated that “this is an effort to prioritize projects with a real possibility of execution by the end of the year and to promote some highly demanded programs.”
The Environmental Fund this year has a revenue of over 1.2 billion euros from the taxation of petroleum, energy products, and the Extraordinary Contribution on the Energy Sector (CESE), the Ministry of Environment recalls.
