REN manages over 8,000 kilometres of fiber optic that cross Portugal from north to south and east to west, parallel to high-voltage cables, gas pipelines and also buried. This network is the largest neutral backbone in Portugal and is managed by REN Telecom, featuring two data centers in Ermesinde and Riba de Ave and seven connections to Spain, as well as international connections to the rest of Europe and the world through submarine cables.
The Portuguese State purchased a 14% stake in REN's capital for 380 million euros from Zara's owner, Amancio Ortega, becoming the second largest shareholder, only behind the Chinese State Grid, which holds 25%. A source from the energy sector told Jornal Económico that the telecommunications network is "extraordinarily sensitive from the national security point of view," adding that the USA has been attentive to developments at REN, believing that relevant information from State services passes through this infrastructure.
The fiber optic network has strategic importance, but weighs little in the company's business. Electricity transmission represents 65% of EBITDA in 2025, followed by gas at 29%, international activity in Chile at 5%, and REN Telecom at only 1%. One of the known public contracts is the one signed in 2020 with EllaLink, a company that manages a submarine cable between Brazil and Sines, using REN's infrastructure to connect South America to Europe.
The Government argued that the investment in REN will enable the acceleration of the electrical grid, increase the capacity for renewable energies and reduce the price of electricity in the medium and long term. However, the president of CIP, Armindo Monteiro, expressed doubts, considering that the State's re-entry into REN's capital is "more of a political decision aimed at reinforcing State influence over a critical infrastructure for the country."
