EDP scraps €169 million floating solar project at Alqueva

EDP has abandoned the Grande Lago hybrid plant, a floating solar and wind project on the Alqueva reservoir awarded in a 2022 tender. Costs had risen from over €100 million to €169 million, while falling wholesale electricity prices undermined its business model. Environmental concerns over the wind farm's power line, particularly its impact on vulture habitats, further complicated the scheme after Portugal's environment agency rejected its impact study. EDP says it remains committed to renewable energy in Portugal. Only one of six floating solar projects awarded in the same competition has so far received environmental approval.