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Angra do Heroísmo ,  March 31, 2014

President of the Government announces investment over 85 million Euros to boost use of endogenous energy resources


The Azores will invest over 85 million Euros over the next four years to boost their endogenous resources under the strategy to reduce energy dependence from abroad," announced the President of the Government today.

Vasco Cordeiro stated that the strategy to seize the potential of these resources has produced "good results in terms of minimising environmental impacts and decrease energy dependence on imported fossil fuels," thus contributing to stability of the regional balance of trade and stimulating economic and social development.

The announcement was made President of the Government during the launch of the Geothermal Azores Iceland Programme (GAIa) that took place in Angra do Heroísmo today. Developed and managed by EDA, this renewable energy project was allocated four million Euros from the Financial Mechanism of the European Economic Space - EEA Grants.

The ceremony was attended by Minister of Industry and Trade of Iceland.
According to Vasco Cordeiro, this investment over 85 million Euros will increase power generation based of renewable energy sources, from 34.8% in 2013 to 53% in 2017.

"We all know that this is an ambitious goal. It is a strategic choice that places the Azores in the forefront of investments in renewable energy," said Vasco Cordeiro. Taking into account the geothermal potential, power generation is "a challenge that the Region wants to overcome" in order to gain autonomy from external sources.

In his speech, the President of the Government also stressed that from the very first moment, the Region has taken the commitment to meet Community targets under the 20/20/20 Programme. These goals concern the increasing penetration of renewable energy sources as well as the reduction of greenhouse gas emissions and fossil energy sources.

Against this background, the Azores have become an example to follow at the level of Community countries and regions regarding their programme for the use of endogenous resources in "green power generation." For this reason, this sector deserves a closer attention by European authorities, stressed the President of the Government.

Vasco Cordeiro defended that regions deserve an international recognition for their role in "green economy." In this context, the European Union should be "more daring in the allocation of funding so that, in addition to the obvious environmental benefits, this economy can growth and create more jobs."

During the ceremony held today, the President of the Government announced that a pilot geothermal plant will be implemented on the island of Terceira. Co-funded by the GAIa Programme, this six-million Euro investment will allow a significant increase in the penetration rate of renewable energies in the island's power generation system.

"After the works that were carried out to confirm the production capacity of fluid in the geothermal reservoir, we have the necessary conditions to move forward with the construction of a pilot geothermal plant," stated the government official.

"By starting power generation in this new geothermal plant, we believe that, if the current production features are maintained, the penetration rate of power generation from renewable sources on this island will reach 32% by 2017," stressed Vasco Cordeiro.
 


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Official government press-releases presented in all foreign languages interfaces of the Azorean Government Portal (Portal do Governo dos Açores) are a sub-set of the government's official press-releases daily output and are chosen for translation and publication on the foreign language interfaces based on audience segmentation criteria. The entire collection of the Azorean government press-releases is available in portuguese, here, from the GACS Press Office site.

 
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