Terna S.p.A. Company Profile

Background

Overview

Terna S.p.A. is Italy's leading electricity transmission system operator (TSO), responsible for managing the national high and extra-high voltage transmission grid. Established in 1999, the company operates approximately 75,236 kilometers of power lines and over 900 electrical substations across Italy. Terna also oversees 30 interconnections with neighboring countries, facilitating cross-border electricity exchange. Listed on the Borsa Italiana, Terna is a constituent of the FTSE MIB index.

Mission and Vision

Terna's mission is to ensure the continuous and reliable supply of electricity, balancing supply and demand 24/7. The company is committed to integrating renewable energy sources, enhancing grid resilience, and supporting Italy's energy transition towards a sustainable future. Its vision focuses on building a future powered by clean energy, enabling new forms of consumption and production based on renewable sources, and achieving net-zero emissions by 2050.

Key Strategic Focus

Core Objectives

Infrastructure Development: Enhancing and expanding Italy's electricity transmission network to accommodate increasing demand and integrate renewable energy sources.

Grid Modernization: Implementing digital technologies and smart grid solutions to improve efficiency, reliability, and flexibility of the transmission system.

Sustainability: Promoting environmental responsibility through investments in green technologies and reducing the carbon footprint of operations.

Areas of Specialization

High-Voltage Transmission: Managing and maintaining Italy's high and extra-high voltage transmission lines and substations.

Interconnection Projects: Developing cross-border interconnections to enhance energy security and market integration.

Renewable Integration: Facilitating the integration of renewable energy sources into the national grid.

Key Technologies Utilized

Smart Grid Technologies: Deploying advanced monitoring and control systems for real-time grid management.

High-Voltage Direct Current (HVDC) Systems: Utilizing HVDC technology for efficient long-distance power transmission and interconnections.

Energy Storage Solutions: Implementing battery storage systems to stabilize the grid and support renewable energy integration.

Primary Markets and Conditions Targeted

Domestic Market: Serving the Italian electricity market by ensuring a stable and efficient transmission system.

International Markets: Expanding operations through interconnections and projects in countries like Greece, Montenegro, and Tunisia.

Financials and Funding

Funding History

Terna has consistently invested in infrastructure development and modernization. In the first half of 2025, the company reported a 26.6% year-on-year increase in capital expenditure, totaling €1.32 billion.

Recent Funding Rounds

In March 2024, Terna announced plans to invest €16.5 billion over the next five years to integrate renewable energy sources and enhance its digital network.

Notable Investors

The largest shareholder is CDP Reti, holding a 29.85% stake. Other significant investors include State Grid Europe Limited (35%) and Italian institutional investors (5.9%).

Utilization of Capital

The capital is primarily allocated towards infrastructure development, grid modernization, renewable energy integration, and international expansion projects.

Pipeline Development

Key Projects

Tyrrhenian Link: A submarine power cable connecting Campania, Sicily, and Sardinia, enhancing grid stability and renewable energy integration.

Adriatic Link: An interconnection between the regions of Abruzzo and Marche, improving energy exchange and reliability.

Italy-Tunisia Interconnection: The first direct electrical link between Europe and North Africa, facilitating cross-continental energy exchange.

Stages of Development

These projects are in various stages, from planning and permitting to construction and commissioning, with completion timelines extending into the late 2020s.

Target Conditions

The projects aim to address challenges related to grid congestion, renewable energy integration, and energy security.

Anticipated Milestones

Tyrrhenian Link: Expected to be operational by 2028.

Adriatic Link: Scheduled for completion by 2027.

Italy-Tunisia Interconnection: Planned to be operational by 2026.

Technological Platform and Innovation

Proprietary Technologies

Grid Management Systems: Advanced software platforms for real-time monitoring and control of the transmission network.

Energy Management Systems: Tools for optimizing energy flow and integrating renewable sources efficiently.

Significant Scientific Methods

Predictive Maintenance Algorithms: Utilizing machine learning to predict equipment failures and optimize maintenance schedules.

Grid Simulation Models: Advanced modeling techniques to simulate grid behavior under various scenarios, aiding in planning and operational decisions.

Leadership Team

Executive Profiles

Igor De Biasio (Chairman): Appointed in May 2023, De Biasio brings extensive experience in corporate governance and strategic leadership.

Giuseppina Di Foggia (CEO and General Manager): Also appointed in May 2023, Di Foggia has a background in telecommunications and energy sectors, previously leading Nokia's Italian operations.

Key Contributions

Igor De Biasio: Oversees strategic direction and corporate governance, ensuring alignment with Terna's mission and vision.

Giuseppina Di Foggia: Leads operational initiatives, focusing on infrastructure development, digitalization, and renewable energy integration.

Competitive Landscape

Market Insights and Dynamics

The European electricity transmission market emphasizes renewable energy integration, grid modernization, and cross-border interconnections. Terna's strategic focus aligns with these trends, positioning it as a key player in the region.

Competitor Analysis

Red Eléctrica (Spain): Operates Spain's transmission network and is involved in international interconnections.

RTE (France): Manages France's transmission system and has extensive cross-border links.

National Grid (UK): Oversees the UK's transmission network and is expanding into international markets.

Strategic Collaborations and Partnerships

Prysmian Group: In July 2025, Terna awarded a €382.5 million contract to Prysmian for supplying and maintaining high-voltage cables, supporting grid modernization efforts.

Masdar: In April 2025, Masdar completed the acquisition of Greece's Terna Energy, marking a significant step in Terna's international expansion strategy.

Operational Insights

Terna's strategic initiatives, including substantial investments in infrastructure and international partnerships, enhance its competitive position in the European energy sector.

Strategic Opportunities and Future Directions

Strategic Roadmap

Infrastructure Expansion: Continuing to develop and upgrade transmission networks to meet growing energy demands and integrate renewable sources.

Digitalization: Implementing advanced technologies for grid management and operational efficiency.

International Growth: Pursuing opportunities in international markets through strategic partnerships and acquisitions.

Future Business Directions

Renewable Energy Integration: Enhancing capabilities to support the integration of renewable energy into the grid.

Energy Storage Solutions: Developing and implementing energy storage systems to improve grid stability and reliability.

Opportunities for Expansion

Cross-Border Interconnections: Expanding interconnections with neighboring countries to enhance energy exchange and security.

Smart Grid Technologies: Investing in smart grid solutions to improve grid management and customer service.

Positioning for Future Objectives

Terna's ongoing investments in infrastructure, technology, and international partnerships position it to achieve its strategic objectives and maintain a leading role in the European energy sector.