REN / REN
REN – Redes Energéticas Nacionais [National Power Grids] operates in two major business areas:
- The transmission in very-high-voltage electricity, and overall technical management of the National Electricity System;
- The transport of high-pressure natural gas, and overall technical management of the National Natural Gas System, ensuring the reception, storage and regasification of LNG, as well as the underground storage of natural gas.
As a result of a nationwide emphasis on the field of renewable energies, the Portuguese Government entrusted Enondas – Energia das Ondas S.A., whose share capital is wholly owned by REN, the concession to operate a pilot area for generating electricity from sea waves.
REN also operates in the telecommunications business via RENTELECOM, which includes a range of services, such as infrastructure, managed services, and consultancy.
The internationalisation of REN’s operations is a business that is taking its first steps, and it received a new push with the entry of strategic international partners into the company’s capital, namely State Grid and Oman Oil.
REN meets all the required quality and safety criteria and seeks to be one of the most efficient European energy transmission system operators, while creating value for its shareholders within a framework of sustainable development.
We work to maintain a balance between those who require and those who supply energy and guarantee that those involved in the energy market, generators, distributors, suppliers and consumers have equal access to infrastructures.
REN – Redes Energéticas Nacionais works to create value for shareholders while contributing to the sustainable development of the communities we interact with. We have planted more than 420,000 trees over an area of 600 hectares. In 2013, we have set up 97 platforms for stork nests and 649 bird anti-collision devices. Our constructions sites are established with a minimum impact for local communities. We invest strongly in research and development and in the training of the people who work with us.
We believe in management based on sustainable development. In 2011, two well-known independent agencies recognised this work and classified REN as one of the benchmark companies in the energy world.
REN has adopted the Anglo-Saxon model of management and supervision. This includes a Board of Directors, which manages the company’s business affairs, and an Audit Committee, which supervises and monitor’s the company’ activity.
Pursuant to this corporate governance model, the company’s overall management is the responsibility of the Board of Directors, its everyday running is the job of the Executive Committee and the supervision and monitoring of its activity is allocated to the Audit Committee. The Statutory Auditor examines the company’s financial statements.
This model is based on a balance resulting from consideration of the shareholders’ role in choosing the board of directors and supervisory bodies and the need for efficient, professional management making it possible to undertake the company’s business.
It therefore falls to the shareholders at the General Meeting, the company’s highest authority, to elect the Board of Directors, which includes the Audit Committee, and appoint the chairmen of the management and supervisory bodies. In turn, the Board of Directors appoints the members of the Executive Committee, including its chairman.
The company publishes its Articles of Association and the regulations of its corporate bodies on this site for a better understanding of REN’s organisation and operations in terms of corporate governance.