REN - Redes Energéticas Nacionais S.A. Announces Investment in Energy Storage

Investment Energy Storage announced Portugal Jan 15, 2024

REN announced an investment in energy storage projects. REN operates the Portuguese electricity and gas transmission networks.

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Counterparts (2)

Investor

Rede Nacional de Transporte de Electricidade (RNT-EP)

company · 1 deals

Rede Nacional de Transporte de Electricidade (REN) is responsible for the security and continuity of electricity service and for the management of the national electricity system in Portugal. It also manages the high-pressure gas transmission network, including mainland Portugal, interconnections with the Spanish network, the LNG terminal, and underground storage facilities.

REN - Redes Energéticas Nacionais S.A.

company

REN - Redes Energéticas Nacionais, S.A. is a Portuguese company that operates in the energy sector, primarily focusing on the transmission of electricity and natural gas. The company manages the high-voltage electricity grid and the high-pressure natural gas pipeline network in Portugal.

Source Intelligence

KEY DETAILS

REN aims to reduce Scope 1 and 2 emissions by 60% by 2030, reduce Scope 3 emissions by 30% by 2030, and achieve 100% green debt by 2030. Quote: REN is reinforcing its sustainability commitments, enhancing its ESG objectives by aiming to reduce Scope 1 and 2 emissions by 60% by 2030 (a 10-percentage-point increase compared to 2019 targets), reduce Scope 3 emissions by 30% by 2030 (compared to 2021), and achieve 100% green debt by 2030.

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Deal Size

totaling between 1.5 and 1.7 billion euros over the 2024-2027 timeframe

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Location

This heightened level of investment significantly impacts the Portuguese economy

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Financials

a decrease in net debt to a range between 2.6 and 2.5 billion euros

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Announcement

15 mayo 2024

PARTIES MENTIONED IN SOURCE

Redes Energéticas Nacionais ( REN ) investor

"Redes Energéticas Nacionais ( REN ) unveiled its Strategic Plan for the period 2024-2027"

medium quality Enriched Feb 19, 2026

Timeline

Announced

Jan 15, 2024

Signed

Closed

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Source

www.review-energy.com

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REN - Redes Energéticas Nacionais S.A. Announces Investment in Energy Storage

Counterparts (2)

Source Intelligence

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