Growing regulatory instability in the energy sector has been raising concerns among developers and investors at a time when Portugal is preparing to take a decisive step in its energy transition — the launch of the long-awaited auction for offshore wind energy projects. In an article published in Jornal Económico, industry experts warn about the risks that uncertainty and successive delays could bring to the development of strategic projects.

Ana Luís de Sousa, partner at VdA and head of the Energy & Natural Resources area, makes a clear case for the need for a specific and stable regulatory framework for offshore wind energy in Portugal, warning of the impact that uncertainty has had on investor confidence.

‘The successive postponement of the offshore wind auction and the uncertainty surrounding its rules, deadlines and conditions have led to a decline in interest from domestic and foreign investors and a loss of opportunity for the country,’ says Ana Luís de Sousa, stressing that the lack of regulatory predictability compromises long-term investment decisions.

To ensure the success of the auction, she considers it essential that the rules are known in advance, are transparent and include enforceable commitments - both on the part of developers and the public authorities responsible for critical infrastructure.

She also highlights the importance of creating a legal framework adapted to the reality of offshore wind power, with clear rules on access to the energy grid, infrastructure sharing, remuneration mechanisms and simplified licensing processes. All of this, she says, ‘reduces uncertainty and risk for investors and project developers’ and helps build confidence for the sector's sustainable development.

‘It is essential to see offshore wind as an opportunity to develop a value chain that is relevant to the Portuguese economy,’ says Ana Luís de Sousa, recalling the positive impact that this sector can have on boosting port infrastructure, national industry and the training of skilled professionals.

In a sector characterised by capital-intensive investments and long-term returns, regulatory stability is, according to Ana Luís de Sousa, a strategic and decisive factor for Portugal to establish itself as a reliable destination in the European energy transition landscape.

• This article was published in the print edition of Jornal Económico on 1 August 2025.