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Portuguese grid operator targets €900m investment to enable renewables transition Image: Smartgrid. Portuguese grid operator Redes Energéticas Nacionais has said it will invest more than €900 million (US$1.1 billion) by 2024 in technologies and improvements to the electricity network to support the country’s green energy transition. Chief executive Rodrigo Costa said on Friday (14 May) that REN will raise its average annual CAPEX by 45% compared to what it was spending between 2018 and 2020 on connecting new renewable energy projects to the grid, improving the current network’s resilience, and bringing green hydrogen projects into the country’s power mix by 2024. Around 10% of the funding will be spent on initiatives to digitise grid operations, according to a statement, while the vast majority (70-75%) would go towards grid expansion to accommodate new renewable power projects.

Takis sarrisRodrigo costaDepartment of energyRedes energரோட்ரிகோ கோஸ்டாதுறை ஆஃப் ஆற்றல்