Government is studying better ways for the State to represent itself in REN

A minister for Environment and Energy said today that the Government is studying what will be the best way for the State to represent itself in REN, after having bought a stake in capital.

In a hearing in parliament, in the context of the specialisation of the State Budget Proposal for 2027 (OE2027), Maria da Graça Carvalho explained that the reason for the purchase of REN was national sovereignty and sovereignty from an energy point of view.

Asked about how the government will act, said it is being studied the best way, with the timetable pointing to the General Assembly in April.

“ Until then it stays as it is, but then it will be a new drawing and we will see how the State will be represented in REN ", said the minister.

Faced with other issues on this subject, Maria da Graça Carvalho said that this operation “is not about debt or deficit, it is an investment.”.

“REN is a good investment, but it is not because it is a good investment that has been made, it is because of national and energy sovereignty,” he said, stressing that Portugal was the only country whose electricity transport company had no State participation.”.

Graça Carvalho pointed out that the government already had control from the outside by being the recipient and through the regulator, but now it is also “inside and this is very important in a company like REN”, at a time when one wants to electrify society and make investments, he said.

On 30 October, the State concluded the purchase of a 5.3% stake in REN to Fidelity, for EUR 138,791 million, raising its position in the company to 19%, today announced the Ministry of Finance.

The ministry entrusted by Joaquim Miranda Sarmento pointed out that the acquisition, carried out through Parpublica, was completed after the issuance of the prior visa of the Court of Auditors, on Thursday, October 29.

In order to finance the operation, the State transferred EUR 136,036 million to Parública, to which the amount not used in the first phase of REN’s capital acquisition was added.

At today's hearing, the theme of the data centres also emerged, with the minister signaling that there will be a number of requirements for the construction of these infrastructures in Portugal, particularly in terms of digitization, scientific research and added value.

As far as water is concerned, the ruler pointed out that the project should have either a technology that does not require water for cooling or a solution that does not collide with water for the general population.

In addition, it will also have to have an environmental impact assessment and it will not be required to produce its energy because there is availability of renewable energy, but it will be necessary to provide security and investment to pay for network connection expenditure.

This set of requirements will be included in the decree-law that the government is preparing, signalled the minister.