A 150 MW solar power plant project in Portugal, awarded through a competitive tender that captured the attention of the entire industry by setting one of the lowest prices ever achieved for solar power worldwide, at around €15/MWh over a 15-year period. Akuo rose to the challenge, and the Santas power plant, which will generate nearly 360 GWh per year—equivalent to the electricity consumption of almost 100,000 households—and avoid approximately 70,000 tonnes of CO₂ emissions annually, is scheduled to enter service in Q2 2024.
By responding to this tender, Akuo made the bold commitment that it could deliver solar electricity at such a low cost over the long term, while helping Portugal maintain control over its energy costs thanks to a supportive regulatory framework. This first project forms part of a broader portfolio of three projects, representing a total capacity of nearly 500 MW. Through optimised technical design and an innovative financial approach—supported in particular by the efforts of industrial partners Gensun and Siemens—Akuo has been able to meet its commitments. Beyond its role as a shareholder in Akuo, Micellium also contributed directly to the project through a dedicated investment.
The next two phases of the programme are now scheduled to be financed in 2024, which will position Akuo as one of the leading renewable energy players in Portugal.
Micellium is proud to be a shareholder in Akuo, which is delivering these high-impact projects that support Portugal’s energy strategy and contribute to achieving its goals of energy autonomy and decarbonisation of the energy mix.
Micellium will continue to leverage its position as a shareholder in Akuo to help shape its strategy and enable the continued development of meaningful projects with lasting impact.