Portugal Advances in Renewable Innovation

Portugal continues to solidify its role as a frontrunner in the global shift toward renewable energy, with the country set to host one of Europe’s most ambitious wave energy projects.

By Paulo Lopes, in Environment, Business · 04 Aug 2025, 07:01 · 0 Comments

Backed by a €40 million grant from the EU Innovation Fund, the Swedish clean energy company CorPower Ocean will develop VianaWave, a pre-commercial 10 MW wave energy park to be installed off the coast of Viana do Castelo.

This initiative represents a major milestone for both CorPower Ocean and the wave energy sector. The project builds on years of testing and research, notably through the successful HiWave-5 pilot conducted in Portuguese waters. Now, with VianaWave, the company aims to transition from demonstration to commercial viability, a leap that could position wave power as a reliable contributor to Europe's renewable energy mix.

Once operational, expected by 2028 or 2029, the VianaWave park will feature a CorPack system comprising 30 wave energy converters. Together, they are projected to generate approximately 30 GWh of clean electricity annually, enough to supply around 7,500 Portuguese households. This deployment marks one of the most significant efforts yet to harness the untapped potential of ocean energy.

Portugal’s strategic coastal location and natural wave resources make it an ideal setting for such developments. According to EU-funded research, the country holds an estimated 15 GW of wave energy potential. On a global scale, the theoretical capacity exceeds 500 GW, illustrating the transformative impact wave energy could have if effectively scaled.

The EU grant will also support key infrastructure investments onshore. These include expanding the electrical grid in the areas of Aguçadoura and Póvoa de Varzim and reinforcing CorPower Ocean’s operational base at the Port of Viana do Castelo. The economic ripple effect is expected to be significant, with around 75% of the project's total lifecycle investment being made in Portugal. This will create high-value jobs in engineering, construction, and operations, driving local economic development and technological advancement.

In addition to public funding, CorPower Ocean has recently secured further private investment, adding momentum to its commercialization strategy. Strategic partners include major global players in renewable energy and engineering, reinforcing confidence in the project’s industrial alignment and long-term viability.

More than just a single energy initiative, VianaWave signals a larger trend: Portugal’s emergence as a key player in the next generation of green technologies. With sustained support from both public and private sectors, the country is proving that it can host pioneering projects that not only push technological boundaries but also deliver tangible environmental and economic benefits.

Wave energy, long seen as a distant promise, is now beginning to show its real potential, and Portugal is riding the crest of that wave.

Paulo Lopes is a multi-talent Portuguese citizen who made his Master of Economics in Switzerland and studied law at Lusófona in Lisbon - CEO of Casaiberia in Lisbon and Algarve.