In 2019, REN acquired the entirety of the Chilean company Transemel, which owns and operates 92 km of electricity transmission lines and five substations in Chile's northern and central regions.
Approximately 90% of the company’s revenues are regulated.
Most of the company's assets are located in the northern region of Chile, which is characterised by the strong influence of the mining industry, with one of Transemel’s substations located near the world’s largest copper mine, in Calama. this region is also characterised by the significant growth of projects for electricity generation from renewable sources, especially photovoltaic, due to the high solar irradiation in this region of the country.
The Electric Transmission Company TRANSEMEL S.A. is a Chilean electricity transmission company of the National Electric System (SEN), which operates in the north and center of the country.
The company is in the final stages of executing a plan to expand its assets, with a value of approximately 60 million USD, ongoing at the time of acquisition in 2019.
In 2022, as part of the public tender for new electricity transmission concessions carried out by Chile’s Coordinador Eléctrico Nacional [National Electricity Coordinator], Transemel was awarded two new concessions, comprising the construction and operation of two electricity substations (Buenavista and Buli), with a total estimated investment of around 50 million USD.