REN plans to invest up to 900 million abroad – publico

                 

                         
                     

                 

 
                         

The REN – National Energy Networks plans to invest up to 900 million euros in international projects and between 700 and 800 million euros in Portugal by 2018, according to the strategic plan released this Friday

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                         According to the press release published on Investor Day, investment in Portugal is mainly done in electricity networks, which is allocated an amount between 500 and 550 million euros.

The remaining 200 250 million euros will be invested in the gas sector, said the company led by Rodrigo Costa.

With regard to Portugal, the management plans of the electricity and gas networks are to maintain the level of average annual investment of recent years, which was 190 million euros between 2012 and 2014. By 2018, the plan outlined by the new CEO, who succeeded Rui Vilar on 1 February, is to invest between 175 and 200 million euros a year.

Since the international level, the amount entered rises from 700 to 900 million euros, with the amount previously entered did not actually get off the ground. In a statement to the Portuguese Securities Market Commission (CMVM), REN notes that “investment always take into account the financial sustainability of the company and the fulfillment of the concession obligations.”

In terms of net results , REN states that in 2018 profits could reach 120 to 130 million euros, an increase of 10% compared to the estimated 90-100 million euros for this year, which is the result of a decrease in financial costs and with the progressive end of the special levy on the energy companies. In this context, the management of networks anticipates maintaining the dividend 17.1 cents per share by 2018.