Portugal Renewables Report Q1 2016
BMI forecasts Portugal's economic recovery will continue during the period 2016-2024, but will remainunremarkable, registering GDP growth rates of 2.61% in 2017 and 1.07% by 2022, a substantialimprovement on the 4% contraction the country experienced in 2012. Renewables investors will beencouraged by this, and by government progress on making early repayments on the loan it received fromthe IMF in 2011.
As indicated in BMI's previous Portugal Renewables Report, these developments are already bearing fruit,as shown by the upgrading of state utility Energias de Portugal (EDP) and state grid company RedesEnergéticas Nacionais (REN)'s investment status. An improved economic climate will encourage investorsand developers to take advantage of the country's well-structured regulatory framework and thegovernment's welcoming attitude towards renewables.
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