Portugal tries to offset China´s control over its power grid
Business News Europe - Portugal tries to offset China´s control over its power grid by purchasing a 13.7% stake in REN. This follows the news report that China’s state-owned company State Grid Corporation of China (SGCC) was the largest shareholder of Portugal´s Critical Infrastructure in Foreign Policy Magazine following a Portugal Business News report on China´s influence on Portugal´s Power Grid. Here are the main shareholders of Portugal´s Power Grid operator REN since September 2026:
In a statement sent to the Portuguese Securities Market Commission (CMVM ) on September 8, 2026, Portugal´s Government confirmed that that the Portuguese State now holds 13.7% of REN through Parpública, after completing the acquisition of 91.7 million shares in the company responsible for the national electricity and gas networks.
The Portuguese State, through Parpública, now has a qualified stake in Portugal´s Power Grid operator REN since it exceeds the 10% threshold for voting rights. While the value of Portugal´s investment in REN was not officially disclosed, Jornal Económico reported that the value stated in the contract was 380 million euros.
Portugal´s Prime Minister justified its investment in the national power grid company with the need to safeguard the national interest and also to lower the price of energy.
Who are the main shareholders of Portugal´s Power Grid operator REN in 2026?
The largest shareholder of Portugal´s Power Grid operator REN is the State Grid Corporation of China with a 25% share.
With its new investment on September 8, 2026, the Portuguese Government becomes the second largest shareholder of Portugal´s Power Grid operator REN with a 13.7% share.
Portugal´s Minister of Environment and Energy emphasized the strategic importance of electricity and gas networks for the country, stating that Portugal´s main interest in having a stake in the electricity grid is "the issue of sovereignty," at a time of global geopolitical turmoil. She added that Portugal´s Government stake in the national power grid changes its position as the State has now managed to have the capacity to influence the management of the national power grid "from within."
Portugal´s Minister for Environment and Energy, Maria da Graça Carvalho, highlighted in a declaration to the Parliament that Portugal had three assets considered strategic by the Government, namely: electricity and gas networks, gas storage, and the refinery. In this context, Portugal´s "main interest" in REN, which justified the purchase of a stake in the company, "is the issue of sovereignty, public interest, and national security ," she indicated.
What is Portugal´s position towards China being the largest shareholder of its national power grid operator REN?
According to Portugal´s Minister for Environment and Energy, Maria da Graça Carvalho, Portugal´s position towards China being the largest shareholder of its national power grid operator REN is not unfavorable since there have been no problems due to the Chinese state having a stake in REN. She added that Portugal and China "have a good working relationship." However, Portugal´s Minister for Environment and Energy explained that Portugal decided to become a major shareholder in REN to have more control on the national power grid:
"Whether it's this or another public company from another country, we cannot forget the geopolitical changes we have seen in recent months. It is very important that we control what is strategic" - Portugal´s Minister for Environment and Energy, Maria da Graça Carvalho.
Portugal was until now an exception at the European level, not having a stake in the capital of the national electricity grid operator.
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