Energy grids operator REN signs 12-year €300M finance deal with EIB
The aim of the contract, it said, is to support funding of investment to increase, strengthen and modernise the electricity transmission network.
Redes Energéticos Nacionais (REN), the company that oversees Portugal’s energy grids, has signed a 12-year financing contract with the European Investment Bank (EIB), worth €300 million, to increase and modernise the electricity transmission network, it said in a statement send to the market regulator.
“On this date, REN signed a long-term financing contract (12 years), in the amount of 300,000,000.00 euros, with the European Investment Bank,” reads the statement sent to the Securities Markets Commission (CMVM).
The aim of the contract, it said, is to support funding of investment to increase, strengthen and modernise the electricity transmission network.
It also aims to integrate renewable energy sources into the network.
In Thursday’s stock market session, shares in REN fell 0.20% to €2.54.
