Portugal to use new REN stake to speed grid investment

Environment and Energy Minister Maria da Graça Carvalho told parliament the government will use the state's newly acquired 13.7% stake in grid operator REN to speed up investment in the electricity network, which she said is currently limiting renewable energy projects. She argued that expanding solar and other renewables should help lower electricity prices, calling clean energy availability and cost the country's main competitiveness factor. The stake, bought from Amancio Ortega's Pontegadea, marks the state's return to REN's capital after exiting in 2014, making it the second-largest shareholder behind China's State Grid. Carvalho cited sovereignty and cybersecurity concerns and defended the purchase, prepared since 2024, as not rushed.

This appeared in the Pulse of 19 August 2026 — Read that edition →