Terna S.p.A.

Terna S.p.A. is the Italian transmission system operator based in Rome and listed on Borsa Italiana’s FTSE MIB index. Through Terna Rete Italia it develops, operates and maintains around 75,000 km of high- and extra‑high‑voltage transmission lines, 915 transformation and switching stations, a national control centre, regional control centres and 30 interconnections with neighbouring countries. It is responsible for transmission, management and dispatching across almost all of Italy’s high‑voltage grid, balancing electricity demand and supply and supporting the integration of renewable generation as part of the national energy transition. In 2024 the group generated €3,680.2 million in revenue and employed 6,420 people. The group structures its business into regulated, non‑regulated and international activities. Regulated activities in Italy focus on strengthening and digitalising the National Transmission Grid, including major HVDC and submarine projects such as the Tyrrhenian Link, Adriatic Link, SA.CO.I.3 between Sardinia, Corsica and mainland Italy, and the Elmed interconnector with Tunisia. Internationally, Terna operates through Terna Plus and related subsidiaries in markets including Chile, Peru, the USA, Brazil and Montenegro, where it has developed and operated transmission lines and interconnections. Non‑regulated activities, largely managed by Terna Energy Solutions and Altenia, cover equipment supply (transformers via Tamini Group and cables via Brugg Cables Group), system integration and O&M for medium- and high‑voltage, renewable and storage systems, connectivity services using dark fibre and data‑centre housing, and interconnector development. Terna’s 2024–2028 Industrial Plan Update foresees €17.7 billion of capital expenditure, classified as fully sustainable under the EU Taxonomy, to reduce grid congestion, increase cross‑border capacity and enable decarbonisation. Around €2.4 billion is dedicated to digital technologies, including SAS architectures, digital twins, IoT and predictive tools. The company pursues an open‑innovation model through two innovation factories, an innovation lab and the Terna Forward corporate venture vehicle, and finances grid investments partly via green and hybrid bonds issued since 2018.