European Investment Bank

The European Investment Bank (EIB) signed financing agreements with TERNA - RETE ELETTRICA NAZIONALE SPA to support delivery of Terna’s Adriatic Link project in Italy. The EIB facility totalled up to €1,000 million, with signatures recorded on 9 July 2025 (€250 million) and 10 July 2025 (€750 million). The financing was associated with the EIB project reference “TERNA ADRIATIC LINK” (20250051), where Terna acted as the project promoter/borrower. The funding was intended to support the development and construction of a submarine direct current high-voltage cable linking the Marche and Abruzzo regions. According to the project description, the scheme aimed to improve reliability and security of the Italian transmission network, increase transfer capacity between market zones, and support the integration of higher volumes of renewable generation alongside other onshore investments. The EIB positioned the loan as enabling longer tenor and disbursement periods than typically available from other financiers and as contributing to the Bank’s climate action objectives and the REPowerEU plan, with implementation in cohesion transition regions. The EIB also noted that project procurement would be tendered in accordance with applicable EU procurement legislation.