EMCC European Monitoring Centre on Change

Redes Energeticas Nacionais, REN

Company/Organisation:
Redes Energeticas Nacionais, REN

Geographic Location

Country: Portugal
Region: Continente
Location of affected unit(s): Portugal-wide

Company

Sector: Utilities
Electricity, gas, steam and air conditioning supply
35 - Electricity, gas, steam and air conditioning supply
Group: Redes Energeticas Nacionais, REN

Employment Effects

Announcement Date: 20-02-2009
Type of Restructuring: Business expansion
Employment Effect Start: 01-03-2009
Planned Job Creation: 2000

Additional Information

National Energy Netwoks (Redes Energeticas Nacionais, REN) announced that it is to invest EUR 500 million, that is EUR 200 million more (60%) than in 2008, in the expansion of electricity and gas supply infrastructure. The investment will result in the creation of 2,000 new jobs. REN will also expand the Sines terminal and build two natural gas storage tanks.