Portugal's State now holds 13.7% of REN - Redes Energéticas Nacionais, the company that manages the national electricity and natural gas networks. This State stake in the company comes as part of the government's strategy for the energy sector.
Minister of the Environment, Maria da Graça Carvalho, stated that this stake can help strengthen the national electricity grid and accelerate new renewable energy projects. The government believes that having a position in network management can facilitate the integration of more renewable capacity into the system.
The State's entry into REN comes in a context where Portugal has been heavily investing in expanding renewable energies, such as wind and solar. The executive intends that this stake also contribute to lowering electricity prices for consumers.
The 13.7% stake makes the State one of REN's main shareholders, allowing it greater influence over the strategic decisions of the company responsible for the critical infrastructure of the Portuguese energy system.
