Terna to Invest $21 Billion in Italian Grid For Energy Transition
MILAN : Italy’s Terna (TRN.MI) has pledged to invest a record 18.1 billion euros ($21 billion) in the country’s power grid over the next 10 years to meet the demands of the energy transition and economic recovery.
Terna, one of Europe’s biggest power grid players, said the projects in the new long-term development plan for the national grid would make it possible to cut carbon emissions by 5.6 million tonnes per year, double that of the previous plan.
“Thanks to the commitment of all our people, we will be able to develop an electricity system that is increasingly efficient, sustainable and ‘green’,” CEO Stefano Donnarumma said.
The future of Europe’s energy transition away from fossil fuels to cleaner sources is heavily dependent on more efficient digitalised grids being developed, to cope with less predictable flows from solar and wind power.
The investments in the grid will help strengthen connections between the south of the country, which produces more electricity from renewable sources, and the industrial north where power demand is heavier, said Terna, which is controlled by national state lender CDP.
The group said it was also planning to spend more than 1.2 billion euros on a new 1,000- megawatt line with Switzerland and around 750 million euros on a new 20-km (12-mile) undersea cable with Greece to boost renewable energy flows.
Source : reuters
