Akuo Advances 147 MWp Solar Energy in Portugal with Margalha Solar Plant

Akuo is set to launch its second major solar facility in Portugal, the Margalha solar power plant.

With an installed capacity of 147 MWp, the Margalha plant will significantly contribute to reducing carbon emissions, avoiding over 45,000 metric tons of CO2 annually. The project will also support Gavião, a municipality with over 4,000 residents, in becoming a positive energy community.

Currently under construction, the Margalha solar tracker project highlights Akuo’s commitment to advancing sustainable energy solutions in Portugal. Strategically located in the Alentejo region, known for its high solar yield, the plant underscores the area’s potential as a renewable energy hub.

Eric Scotto, President and co-founder of Akuo, said, “2024 marks the ramp-up of Akuo in Portugal and its further anchorage in the country.Since 2019, Akuo has been working hard, hands in hands with local and national stakeholders: today, we are overwhelmed to see our projects turning into reality and injecting electricity for the benefit of Portuguese citizens. MEAG is once again a key and trust worthy partner and I look forward continuing this Portuguese journey together”.

Michael Wieser, Senior Investment Manager at MEAG, added, “Following the successful completion of Santas, also financed by MEAG, we are pleased and proud to further strengthen our cooperation with Akuo by acting as the sole financing party for Margalha. We would like to thank Akuo for their continued partnership and all parties involved in these two milestone projects”.

Akuo’s ongoing projects, such as Margalha, align seamlessly with Portugal’s bold renewable energy objectives, reinforcing its position at the forefront of the clean energy movement.