Galp and BPI Partner Up to Promote Solar Self-Consumption in Portugal

• Galp Solar, a unit of Portuguese energy group Galp Energia SGPS SA, has partnered with compatriot bank BPI to promote solar installations for self-consumption to local businesses. This solution includes bank financing and solar panel installation by professional specialists.

What happened?

Galp Solar, a unit of Portuguese energy group Galp Energia SGPS SA, has formed a partnership with compatriot bank BPI to promote solar installations for self-consumption to local businesses. This solution includes bank financing and solar panel installation by professional specialists and is specifically targeting BPI corporate customers. According to the energy group, the solar installations can help achieve savings of up to 30% and a reduction of around 9 tonnes of carbon dioxide (CO2) per year for businesses with an annual electricity bill of about EUR 10,000. (Source: Galp Energia SGPS SA)

Why does it matter?

This partnership between Galp Solar and BPI is an important step in the development of renewable energy in Portugal. Solar energy is a clean and renewable source of energy that can help businesses reduce their electricity bills and carbon footprint. By providing financing options and professional installation services, the partnership makes it easier for businesses to take advantage of this technology. 

What's next?

The partnership between Galp Solar and BPI is part of a larger effort in Portugal to promote renewable energy sources. The government has set ambitious targets for renewable energy production by 2030, and partnerships like this one will help the country to reach these targets. Going forward, more businesses are likely to take advantage of this partnership and make the switch to solar energy.