Fid Financial Close

On 10 July 2025, Terna signed financing agreements totalling EUR 1.5 billion for the Adriatic Link HVDC submarine interconnector at a ceremony in Rome attended by EIB Group President Nadia Calvino, Terna CEO Giuseppina Di Foggia, and representatives of SACE and Intesa Sanpaolo. The package comprises a EUR 750 million 22-year loan from the European Investment Bank (signed 9-10 July 2025), a EUR 500 million seven-year credit line from Intesa Sanpaolo (IMI Corporate and Investment Banking Division), and a further EUR 250 million seven-year loan from Intesa Sanpaolo funded by the EIB, with over EUR 1 billion of the total guaranteed by SACE under its Archimede Guarantee scheme. The financing secures the capital needed to complete construction of the 1,000 MW, 500 kV HVDC connection between the Marche and Abruzzo regions, a strategic project in Italy s National Integrated Energy and Climate Plan (PNIEC) targeting operation in 2029. This event is recorded as fid_financial_close because the signing of the EUR 1.5 billion financing package represents the point at which the project s full funding commitment was secured and construction financing closed, enabling Terna to proceed with the remaining major works including submarine cable installation.