Terna to invest $11 B into energy transition
Italy: Italy-based transmission system operator Terna has announced a $11 B (€10 B) investment in Italy’s energy transition and decarbonisation.
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Italy: Italy-based transmission system operator Terna has announced a $11 B (€10 B) investment in Italy’s energy transition and decarbonisation.
The company’s board approved the investment as part of its 2021-25 ‘Driving Energy’ industrial plan.
Terna aims to bolster its role in driving the Italian electricity system in line with the targets set by the National Integrated Energy and Climate Plan (PNIEC) and the EU’s Green Deal, which aims to reduce greenhouse gas emissions by at least 55 % by 2030.
With regard to regulated activities in Italy, which continues to be the group’s core business area, the company plans to invest $10.5 B (€9.5 B) to develop, upgrade and strengthen the national transmission grid.
It will also invest $2.9 B (€2.6 B) to reorganise Italy’s existing infrastructure and replace its overhead lines with underground cables.
In addition, Terna plans to make a $1.4 B (€1.3 B) investment in the Defence Plan to boost the system’s technical and technological capabilities.
“Our capital expenditure, which has a key role to play in enabling Italy and Europe to meet the goals that have been set, will allow us to integrate renewable sources and electrify consumption and to guarantee ever greater security and efficiency of supply, a system that is fit for purpose and improved quality of service, whilst cutting costs for consumers and businesses,” said Terna CEO Stefano Donnarumma.
Source: Power Technology
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