Terna S.p.A. is a transmission system operator (TSO) based in

Rome Rome (Italian language, Italian and , ) is the capital city and most populated (municipality) of Italy. It is also the administrative centre of the Lazio Regions of Italy, region and of the Metropolitan City of Rome. A special named with 2, ...

Italy Italy, officially the Italian Republic, is a country in Southern Europe, Southern and Western Europe, Western Europe. It consists of Italian Peninsula, a peninsula that extends into the Mediterranean Sea, with the Alps on its northern land b ...

. It operates through ''Terna Rete Italia'', that manages the Italian transmission grid and ''Terna Plus'' which is in charge of new business opportunities and non-traditional activities in

Brazil Brazil, officially the Federative Republic of Brazil, is the largest country in South America. It is the world's List of countries and dependencies by area, fifth-largest country by area and the List of countries and dependencies by population ...

Chile Chile, officially the Republic of Chile, is a country in western South America. It is the southernmost country in the world and the closest to Antarctica, stretching along a narrow strip of land between the Andes, Andes Mountains and the Paci ...

Peru Peru, officially the Republic of Peru, is a country in western South America. It is bordered in the north by Ecuador and Colombia, in the east by Brazil, in the southeast by Bolivia, in the south by Chile, and in the south and west by the Pac ...

and

USA The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 states and a federal capital district, Washington, D.C. The 48 contiguous ...

(2023). With of power lines or around 98% of the Italian high-voltage power transmission grid, Terna is the leading independent grid operator in Europe and the sixth largest electricity transmission grid operator in the world based on the size of its

electrical grid An electrical grid (or electricity network) is an interconnected network for electricity delivery from producers to consumers. Electrical grids consist of power stations, electrical substations to step voltage up or down, electric power tran ...

. Terna is listed on the

Borsa Italiana Borsa Italiana () or Borsa di Milano (), based in Milan at Palazzo Mezzanotte, Mezzanotte Palace, is the Italy, Italian stock exchange. It manages and organises domestic market, regulating procedures for admission and listing of companies and i ...

and is a constituent of the

FTSE MIB The FTSE MIB (Milano Indice di Borsa) (the S&P/MIB prior to June 2009) is the benchmark stock market index for the Borsa Italiana, the Italian national stock exchange, which superseded the MIB-30 in September 2004. The index consists of the 40 m ...

index.

History

On 31 May 1999, Terna was established within the Enel Group, by way of implementation of Italian Legislative Decree No. 79/99 which within the context of the process for the deregulation of the Italian electricity sector, sanctioned the separation between ownership and management of the national transmission grid. On 23 June 2004, following the Prime Minister's Decree issued on 11 May of the same year, Terna was put on sale with an

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

. In November 2005, Terna acquired a business unit from GRTN, as defined by the Prime Ministerial Decree of 11 May 2004.

Cassa Depositi e Prestiti Cassa Depositi e Prestiti S.p.A., also known as CDP S.p.A., is a prominent Italian development bank founded on November 20, 1850, in Turin. Its original duty was to finance public works like roads and waterworks during the reign of Victor Emman ...

became the relative majority shareholder. In 2010 Terna joined

Desertec Desertec (Often: ''DESERTEC'') is a non-profit foundation aimed at sustainably and ecologically producing electricity in sunny regions of the world. Sunny deserts are therefore the focus. The energy is intended to be used locally, but also expor ...

, a project aimed at producing and transmitting

renewable energy Renewable energy (also called green energy) is energy made from renewable resource, renewable natural resources that are replenished on a human lifetime, human timescale. The most widely used renewable energy types are solar energy, wind pow ...

in the

Middle East The Middle East (term originally coined in English language) is a geopolitical region encompassing the Arabian Peninsula, the Levant, Turkey, Egypt, Iran, and Iraq. The term came into widespread usage by the United Kingdom and western Eur ...

and

North Africa North Africa (sometimes Northern Africa) is a region encompassing the northern portion of the African continent. There is no singularly accepted scope for the region. However, it is sometimes defined as stretching from the Atlantic shores of t ...

(MENA) to meet local needs and be assigned in part to the

Europe Europe is a continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere. It is bordered by the Arctic Ocean to the north, the Atlantic Ocean to the west, the Mediterranean Sea to the south, and Asia to the east ...

an interconnected grid. In 2011, the Terna Group reorganized its corporate structure, establishing a holding company overseeing two fully owned operational subsidiaries: Terna Rete Italia and Terna Plus, each with its own CEO and board of directors. In 2013, Terna initiated strategic projects, including the “Capri-Torre Annunziata” submarine cable connecting

Capri Capri ( , ; ) is an island located in the Tyrrhenian Sea off the Sorrento Peninsula, on the south side of the Gulf of Naples in the Campania region of Italy. A popular resort destination since the time of the Roman Republic, its natural beauty ...

to mainland Italy. The same year, Terna and its French counterpart RTE began work on enhancing the

France France, officially the French Republic, is a country located primarily in Western Europe. Overseas France, Its overseas regions and territories include French Guiana in South America, Saint Pierre and Miquelon in the Atlantic Ocean#North Atlan ...

interconnection via the new “Piedmont-Savoy” line, which became operational in 2023. In 2015, Terna acquired the high-voltage grid of the FS Italiane Group and started developing new national and international interconnection infrastructures, including SA.CO.I.3 (Italy-Corsica-Sardinia) and links with

Montenegro , image_flag = Flag of Montenegro.svg , image_coat = Coat of arms of Montenegro.svg , coa_size = 80 , national_motto = , national_anthem = () , image_map = Europe-Mont ...

(inaugurated in 2019) and

Austria Austria, formally the Republic of Austria, is a landlocked country in Central Europe, lying in the Eastern Alps. It is a federation of nine Federal states of Austria, states, of which the capital Vienna is the List of largest cities in Aust ...

(operational in 2023). To support efficiency improvements and environmental protection investments in its national infrastructure, Terna issued its first

Green bond A green bond is a fixed-income financial instrument ( bond) which is used to fund projects that have positive environmental benefits. When referring to climate change mitigation projects they are also known as ''climate bonds''. Green bonds follow ...

worth €750 million in July 2018, becoming the first Italian utility to do so. Additional green hybrid bonds followed in 2022 (€1 billion) and 2024 (€850 million). In 2022, Terna launched the Tyrrhenian Link interconnection project between

Campania Campania is an administrative Regions of Italy, region of Italy located in Southern Italy; most of it is in the south-western portion of the Italian Peninsula (with the Tyrrhenian Sea to its west), but it also includes the small Phlegraean Islan ...

and

Sicily Sicily (Italian language, Italian and ), officially the Sicilian Region (), is an island in the central Mediterranean Sea, south of the Italian Peninsula in continental Europe and is one of the 20 regions of Italy, regions of Italy. With 4. ...

, followed in 2023 by the Adriatic Link project between

Marche Marche ( ; ), in English sometimes referred to as the Marches ( ) from the Italian name of the region (Le Marche), is one of the Regions of Italy, twenty regions of Italy. The region is located in the Central Italy, central area of the country, ...

and

Abruzzo Abruzzo (, ; ; , ''Abbrìzze'' or ''Abbrèzze'' ; ), historically also known as Abruzzi, is a Regions of Italy, region of Southern Italy with an area of 10,763 square km (4,156 sq mi) and a population of 1.3 million. It is divided into four ...

. That year, Terna also activated the submarine connection between

Elba Island Elba (, ; ) is a Mediterranean island in Tuscany, Italy, from the coastal town of Piombino on the Italian mainland, and the largest island of the Tuscan Archipelago. It is also part of the Arcipelago Toscano National Park, and the third larges ...

and

Piombino Piombino is an Italian town and ''comune'' of about 35,000 inhabitants in the province of Livorno (Tuscany). It lies on the border between the Ligurian Sea and the Tyrrhenian Sea, in front of Elba Island and at the northern side of Maremma. Ov ...

. Internationally, the company developed the world's longest direct-current cable laid along a highway between Italy and France and initiated the first submarine direct-current connection between Europe and North Africa, linking Italy and

Tunisia Tunisia, officially the Republic of Tunisia, is a country in the Maghreb region of North Africa. It is bordered by Algeria to the west and southwest, Libya to the southeast, and the Mediterranean Sea to the north and east. Tunisia also shares m ...

. In April 2023, Giuseppina Di Foggia was appointed CEO and General Manager, becoming the first woman to lead a major publicly listed Italian company. The same year, Terna launched its 2023-2032 Development Plan, featuring over 30 infrastructure projects, including the Hypergrid project, utilizing high-voltage direct current (HVDC) technologies to double exchange capacity and achieve Italy’s energy transition and security objectives.

Activities

Italian Transmission Grid

As a

Transmission System Operator File:Electricity grid simple- North America.svg, 380px, Simplified diagram of AC electricity grid from generation stations to consumers in North America rect 2 243 235 438 Power station rect 276 317 412 556 Transformer rect 412 121 781 400 Elect ...

, Terna is responsible for the

transmission Transmission or transmit may refer to: Science and technology * Power transmission ** Electric power transmission ** Transmission (mechanical device), technology that allows controlled application of power *** Automatic transmission *** Manual tra ...

, management, and dispatching of electricity across the Italian high- and extra-high-voltage grid. It ensures a constant balance between energy demand and supply while promoting the country’s

energy Energy () is the physical quantity, quantitative physical property, property that is transferred to a physical body, body or to a physical system, recognizable in the performance of Work (thermodynamics), work and in the form of heat and l ...

and digital transition through the progressive

decarbonization Climate change mitigation (or decarbonisation) is action to limit the greenhouse gases in the atmosphere that cause climate change. Climate change mitigation actions include conserving energy and replacing fossil fuels with clean energy sour ...

of the electricity system and increased integration of

sources. Terna plans, designs, and builds interconnection infrastructures within Italy and abroad to ensure the country’s

energy security Energy security is the association between national security and the availability of natural resources for energy consumption (as opposed to household energy insecurity). Access to cheaper energy has become essential to the functioning of modern ...

. It also maintains existing infrastructures and works to minimize their impact on

biodiversity Biodiversity is the variability of life, life on Earth. It can be measured on various levels. There is for example genetic variability, species diversity, ecosystem diversity and Phylogenetics, phylogenetic diversity. Diversity is not distribut ...

and

landscapes A landscape is the visible features of an area of land, its landforms, and how they integrate with natural or human-made features, often considered in terms of their aesthetic appeal.''New Oxford American Dictionary''. A landscape includes the ...

. Operating as a

natural monopoly A natural monopoly is a monopoly in an industry in which high infrastructural costs and other barriers to entry relative to the size of the market give the largest supplier in an industry, often the first supplier in a market, an overwhelming adv ...

, Terna is regulated by the Italian Authority for Energy, Networks, and the Environment (ARERA).

Energy Market Activities in Italy

Terna also engages in unregulated activities supporting the energy transition, primarily through Terna Energy Solutions and its subsidiaries. It provides services to companies in the

and connectivity market with solutions in

photovoltaic systems A photovoltaic system, also called a PV system or solar power system, is an electric power system designed to supply usable solar power by means of photovoltaics. It consists of an arrangement of several components, including solar panels to abso ...

energy efficiency Energy efficiency may refer to: * Energy efficiency (physics), the ratio between the useful output and input of an energy conversion process ** Electrical efficiency, useful power output per electrical power consumed ** Mechanical efficiency, a rat ...

smart grids The smart grid is an enhancement of the 20th century electrical grid, using two-way communications and distributed so-called intelligent devices. Two-way flows of electricity and information could improve the delivery network. Research is main ...

housing Housing refers to a property containing one or more Shelter (building), shelter as a living space. Housing spaces are inhabited either by individuals or a collective group of people. Housing is also referred to as a human need and right to ...

and hosting,

fiber optics An optical fiber, or optical fibre, is a flexible glass or plastic fiber that can transmit light from one end to the other. Such fibers find wide usage in fiber-optic communications, where they permit transmission over longer distances and at ...

, and the production of

transformers ''Transformers'' is a media franchise produced by American toy company Hasbro and Japanese toy company Tomy, Takara Tomy. It primarily follows the heroic Autobots and the villainous Decepticons, two Extraterrestrials in fiction, alien robot fac ...

and underground

cables Cable may refer to: Mechanical * Nautical cable, an assembly of three or more ropes woven against the weave of the ropes, rendering it virtually waterproof * Wire rope, a type of rope that consists of several strands of metal wire laid into a he ...

Operations

Informazioni su un traliccio elettrico di Terna

Terna's assets include: *75,140 km of lines *910 transformation and switching stations *1 National Control Center (NCC) *4 Control centers *30 lines of interconnections with other countries (CTI) * SA.PE.I. with

Sardinia Sardinia ( ; ; ) is the Mediterranean islands#By area, second-largest island in the Mediterranean Sea, after Sicily, and one of the Regions of Italy, twenty regions of Italy. It is located west of the Italian Peninsula, north of Tunisia an ...

island, one of the longest underwater cables in the world (435 km), with a capacity of 1000 MW *28

synchronous condenser In electrical engineering, a synchronous condenser (sometimes called a syncon, synchronous capacitor or synchronous compensator) is a DC-excited synchronous motor, whose shaft is not connected to anything but spins freely. Its purpose is not to c ...

s in South Italy To safeguard its assets, Terna has created an organization capable of protecting the company's physical and technological infrastructures, also through the prevention and management of episodes of corporate fraud. In this framework, in order to guarantee the maximum safeguarding of said infrastructures and investments, it has signed memoranda of understanding, first of its kind and type with the

Ministry of the Interior An interior ministry or ministry of the interior (also called ministry of home affairs or ministry of internal affairs) is a government department that is responsible for domestic policy, public security and law enforcement. In some states, the ...

, Carabinieri and Guardia di Finanza.

Group Structure

The Terna Group includes: * Directly controlled italian companies ** Terna Rete Italia S.p.A. (100% ownership) ** Rete S.r.l. (100% ownership) ** Terna Plus S.r.l. (100% ownership) ** Terna Energy Solutions S.r.l. (100% ownership) ** Terna Forward S.r.l. (100% ownership) ** Terna Interconnector S.r.l. (65% ownership) * Directly Controlled Foreign Companies ** Terna Crna Gora d.o.o. (100% ownership) * Companies evaluated using the Equity Method and participated by Terna S.p.A. ** CESI S.p.A. (42.69% ownership) ** CORESO S.A. (15.84% ownership) ** CGES (22.09% ownership) ** Equigy B.V (20% ownership) ** ELMED ÉTUDES Sarl (50% joint control) ** SEleNe CC S.A. (33.33% joint control) * Companies controlled through Terna Energy Solutions S.r.l. ** Tamini Trasformatori S.r.l. (100% ownership) ** Avvenia The Energy Innovator S.r.l. (100% ownership) ** Brugg Kabel Services AG (100% ownership) ** LT S.r.l. (75% ownership) * Companies controlled through Terna Plus S.r.l. ** Terna Chile S.p.A. ** Terna Peru S.A.C. ** Terna 4 Chacas S.A.C. ** SPE Transmissora de Energia Linha Verde I S.A. ** Terna USA LLC.

Terna Linee Alta Tensione S.r.l.

On April 1, 2009, Terna acquired 100% of Enel High Voltage Lines S.r.l. from Enel Distribuzione S.p.A. The company owned 18,583 kilometers of high-voltage electricity grid, purchased for €1,152 million. This acquisition brought Terna's ownership to 98.5% of the national grid. Since 2009, Terna has managed these assets using the same approach previously adopted by Enel, outsourcing grid management to third-party companies through national tenders. These companies include Consorzio Arcobaleno, Consorzio Golden Lucano, and Siel.

Financial results

Governance

Management from 1999

Chairmen * Francesco Tatò (1999-2002) * Fulvio Conti (2002-2005) * Luigi Roth (2005-2014) *

Catia Bastioli Catia Bastioli (born 1957) is an Italian researcher, chemist, and entrepreneur. Born in Foligno, she was always interested in chemistry and the natural world. Bastioli went on to attend the Business Management School at Bocconi University and get ...

(2014-2020) * Valentina Bosetti (2020-2023) * Igor Di Biasio (from 2023) Chief Executive Officers * Sergio Mobili (1999-2005) * Flavio Cattaneo (2005-2014) * Matteo Del Fante (2014-2017) * Luigi Ferraris (2017-2020) * Stefano Antonio Donnarumma (2020-2023) * Giuseppina Di Foggia (from 2023)

Board of directors

Board members, appointed on May 9, 2023, for the 2023–2025 term: * Igor De Biasio - Chairman * Giuseppina Di Foggia - CEO and General manager * Jean-Michel Aubertin, Regina Corradini D’Arienzo, Enrico Tommaso Cucchiani, Angelica Krystle Donati, Marco Giorgino, Gian Luca Gregori, Karina Audrey Litvack, Francesco Renato Mele, Qinjing Shen, Simona Signoracci, Anna Chiara Svelto

Shareholders

Terna has been listed in the

Italian Stock Exchange Borsa Italiana () or Borsa di Milano (), based in Milan at Palazzo Mezzanotte, Mezzanotte Palace, is the Italy, Italian stock exchange. It manages and organises domestic market, regulating procedures for admission and listing of companies and i ...

since 2004. The main shareholders are: * CDP Reti – 29.85% * Retail – 13.9% * Institutional investors – 56.3%

Awards

According to the

Edison Electric Institute The Edison Electric Institute (EEI) is an association that represents all U.S. investor-owned electric companies. In its official communications, EEI mostly cast doubt on climate change in the 1990s. In the 2000s, EEI no longer cast doubt on clim ...

, Terna is the best European company among utilities by total return of shares in 2010–2012.Terna the best European utility for shareholder return
/ref> In these three years Terna's return stood at 24%, compared to average returns in the sector (DJ Stoxx-10%, Ftse Mib-21%). In 2010 Terna did receive the same recognition for the 2007–2009, as Terna's share return stood at +40%, achieving a net overperfomance (nearly 55%) compared to the European sector that registered -15%.

References

External links

* ENTSO-E Transmission System Operators
Corriere Economia
{{DEFAULTSORT:Terna - Rete Elettrica Nazionale Electric power transmission system operators in Italy Companies based in Rome Companies listed on the Borsa Italiana Companies in the FTSE MIB Former Enel subsidiaries Formerly government-owned companies of Italy