Brief: REN Receives Approval For Investments In Electricity Network In Portugal

REN Redes Energeticas Nacionais SGPS SA

05/08/2024 07:18

Aug 5 (Reuters) - REN Redes Energeticas Nacionais
 RENE.LS :
    * SAID ON FRIDAY RECEIVED APPROVAL FROM PORTUGUESE
GOVERNMENT FOR
PLAN OF SPECIFIC INVESTMENTS IN NATIONAL TRANSMISSION NETWORK
(RNT) RELATING TO SINES HIGH DEMAND ZONE
    * INVESTMENT PLAN AMOUNTS TO 536 MILLION EUROS, BEING
PARTIALLY
SUBSIDISED BY NETWORK ACCESS CONTRIBUTIONS PAID BY APPLICANTS
FOR THE CORRESPONDING CONNECTION CAPACITY
    * PLAN AIMS TO CREATE ADDITIONAL GRID CONNECTION CAPACITY OF
UP TO
5.9 GVA
    * PLAN WILL BE CARRIED OUT IN THREE PHASES, THE FIRST ENDING
ON
OCT 31, 2026, SECOND ON MARCH 31, 2029 AND THIRD ON JUNE 30,
2031
    * RECEIVED APPROVAL FROM PORTUGUESE GOVERNMENT TO RNT
DEVELOPMENT
PROJECT IN NORTH-EAST OF MAINLAND PORTUGAL FOR INTEGRATION OF
RENEWABLES, AS WELL AS REINFORCEMENT OF RNT FOR ITS STRATEGIC
DEVELOPMENT AND TO INJECT PISAO PHOTOVOLTAIC PLANT INTO GRID
    * GOVERNMENT ALSO ACCEPTED REINFORCEMENT OF TRANSFORMER
CAPACITY
AT FRADES AND PENELA SUBSTATIONS
    * CAPEX INVESTMENT VALUE OF THESE PROJECTS AMOUNTS TO ABOUT
75
MILLION EUROS

        
 Source text: https://tinyurl.com/4a6wbt6d
 Further company coverage:  RENE.LS  

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