Terna USA, Meridiam e Boundless energy have signed an agreement – Joint Development Agreement (Jda) – with the aim of developing joint activities in the United States in the field of electricity transmission networks. The partnership will make it possible to seize the business opportunities associated with the acquisition, development and creation of large companies projects infrastructure of electrical transmission, onshore and offshore, in the United States. This is the announcement of the Italian manager in a press release.
Terna and the agreement in the USA: large infrastructures such as the Tyrrhenian Link
The current context of the electricity system in the Use in fact, it sees the need to build important new transmission infrastructures that connect the areas of the country where there is a greater demand for electricity with those with greater availability of renewable sources. These are often complex projects both from a technical point of view, as they must be carried out with underground or submarine cables, and from a development point of view, involving several states or regions of the United States. In detail, Terna, the manager of the national electricity grid led by Stefano Donnarumma, will make its expertise available in large projects of underground and submarine electricity cables, among which the Tyrrhenian Link, the submarine connection that will unite Campania, Sicily and Sardinia for a total length of approximately 970 km and a cable laying that, for the first time in the world, will exceed 2000 meters of depth with respect to sea level.
Terna and the agreement in the USA: who are the partners?
Terna has signed a JDA agreement with two groups. Terna is the operator of the national electricity transmission grid. But who are the other two partners in the agreement? Meridiam is an independent investment company, under French law, which manages assets for over 18 billion dollars, explains the press release with which the news was released. In particular, Meridiam specializes in the development, financing and management of sustainable infrastructure projects, with a focus on strategic public services, sustainable mobility and innovative low-carbon solutions. Meridiam has recently finalized the first submarine electrical connection absolutely between UK , Germany. This is a crucial link that will become one of the largest interconnection projects in the world, with a length of 725 km and supplying energy to 1,5 million homes.
Boundless energy, a US-based company developing transmission projects to increase capacity and improve the reliability of the US electric grid, will pool its proven experience and strong technical background, as well as its portfolio of already developed projects to many areas of the United States. Indeed, Boundless Energy successfully managed the design and construction of Neptune, a 40km submarine cable link linking New Jersey with Long Island, which entered service in 2005.
The comment by Giacomo Donnini (Terna)
“The signing of the agreement with Meridiam and Boundless Energy represents an important step in strengthening our international presence and entering a market with interesting growth potential,” commented Giacomo Donnini, Terna Group's Large Projects and International Development Director. “Thanks to the partnership with two highly relevant and experienced individuals in the sector, Terna will be able to pursue, with a capital light approach, important business opportunities to contribute to the development of the electricity system in the United States and to increasingly integrate the energy produced through renewable sources such as the sun and the wind into the grid”.
Source: Terna press release of 24 October 2022
