Nogueira Leite: "We don't have capital in the country for offshore wind power"

"Technologies that are still immature, such as offshore wind power, for example, should be limited to pilot projects." This is the opinion of Vítor Santos, professor of Economics at ISEG – Lisbon School of Economics & Management, at the University of Lisbon.

Participating in the same panel at the Electric Summit, organised by Negócios this Tuesday, economist António Nogeira Leite shares the same opinion. "We do not have enough capital in the country to be experimenting with offshore wind power. It has to be done carefully and we cannot lose the leadership we have in some areas of renewable energy", he said, proposing the installation of wind power on the Portuguese coast in shallower areas, such as Vila Nova de Gaia.

"We already have offshore wind energy production in Viana do Castelo, but how much do we pay for each MWh? We should not invest in such capital-intensive projects. It seems like we are the world champions, when we are not", said Nogueira Leite, recalling that "Europe must be more effective in facing its rivals in decarbonization", such as China and the USA.

Regarding the country's good position in renewables, the economist says that "it was important to have had the investment we had in the past in wind and solar", highlighting that "many wind contracts were magnanimous and we are still paying for them today" in our electricity bills.

For his part, Vítor Santos stressed that the investment by the Chinese company CALB in Sines is "excellent news". "Countries like China and the USA are going to invest in Portugal and we have to be open to receiving this investment. We are very focused on mature industries, like the automobile industry, rather than on green technologies and industries".