Terna receives a loan of 130 million from the EIB (European Investment Bank). for the construction of the “Piedmont-Savoy” interconnection, the new 320 kilovolt (kV) continuous power line built by the public group in partnership with private entrepreneurs, which will connect Italy and France. This is the fourth connection line between the two countries, and will strengthen the integration and competitiveness of the electricity market, in line with the European strategy.
The entry into operation of the new line is expected by the end of 2019. The loan, to support investments for the public part of the project, will last 22 years and envisages a single fixed-rate tranche of 1,64%.
“The high voltage electrical interconnection between piossasco (in the province of Turin) e Grand'Ile – clarifies the press release released by Terna - envisages a total exchange capacity on the border of 1200 megawatts (MW) and is based on the use of unprecedented technological solutions worldwide” so much so that it has been identified among the Projects of Common Interest by the European Commission.
"We are very proud of the contribution that the EIB offers to this project of strategic importance, which will contribute to the efficiency and security of the European electricity system, as well as to the creation of the single electricity market - said Luigi Ferraris, CEO of Terna – The interconnection with France is a'innovative and unique work in the world for the engineering solutions adopted, capable of combining sustainability and growth as key elements of Terna's investment plan for the country".
Satisfaction also from the European Investment Bank: "This transaction confirms the commitment of the European Union bank in the crucial sector of energy networks and further strengthens the fruitful collaboration with Terna: in recent years we have supported the company in the main investment plans for the 'modernization and development of the electricity transmission network with a total of one billion in loans”, commented the Vice-President of the EIB, Dario Slaughterhouse.
Already today, the Italian border is among the most connected on a continental level, thanks to the 25 active electricity connections with France, Austria, Slovenia, Switzerland and Greece. In the photo, from left, Terna's managing director Luigi Ferraris and EIB vice president Dario Scannapieco.
