By the end of September, Portugal's wind capacity stood at 2065 MW from 150 projects, according to the latest figures released by the General Directorate for Energy and Geology. Total renewable energy capacity was 7365 MW. Almost half (47%) of the country's wind projects have capacity ratings of 25 MW or less. The average investment per megawatt declared under the country's MAPE incentive program was EUR 1.18 million, although just 587 MW of the 1533 MW that has obtained financing has come online so far. Average wind plant full load production has been 2120 hours a year, with 41% of the plant operating for more than 2250 hours. Licences for construction of 263 MW of wind plant were granted in the first nine months of 2007, bringing the total licensed to 3336 MW. At current rates of development, Portugal's installed wind capacity is forecast to rise to 2800 MW by the end of 2008.