We are engaged in two principal lines of business: electricity transmission, where we own and operate the RNT, the only electricity transmission network in mainland Portugal, and natural gas, where we are engaged in the reception, storage and regasification of LNG, the operation of the national high-pressure gas transmission network, which we own and operate under respective concessions and the underground storage of natural gas.
As a clear result of the national energy policy in the renewable energy area, the Portuguese State has granted, the concession for the operation of a pilot area for the generation of electricity from wave energy, for a 45 year period, to Enondas - Energia das Ondas, S.A., company which share capital is 100% owned by REN. At
We also operate certain other businesses that complement our core electricity and natural gas businesses: a telecommunications business to exploit the excess telecommunications capacity of our electricity and natural gas networks, an energy trading business (under the PPAs that are not subject to early termination) and the Portuguese marketplace for trading Iberian electricity derivatives.
We believe that our combined electricity and natural gas businesses have considerable growth potential, driven by our stable core business environment and long-term concessions, the historical and projected growth in electricity and natural gas consumption in Portugal and our leading integrated energy infrastructure platform.