Terna strides along the path of Tyrrhenian Link, the power line that will connect Sicily, Sardinia and Campania. Terna today signed a loan agreement for 500 million with the The (European Investment Bank). The loan, specifies a press release from the company that manages the national electricity transmission grid, is intended to support the construction and commissioning of the "East Branch", which will connect Sicily to Campania. The Tyrrhenian Link is the most important work included in the business plan 2021-25 of Terna which in the last update of March 2022 indicated the goal to achieve 10 billion investmentat the end of the plan, of which 1,7 billion this year and over 660 million already under way first semester of this year. the next update will arrive within a few days, with the publication of the quarterly results as at 9 September on Wednesday 30 November.
The Tyrrhenian Link: what it is and what the new power line is for
The EIB loan represents the first tranche of the total amount approved by the European bank to service the Tyrrhenian Link, equal to 1,9 billion in total. In fact, Terna expects a total investment of approx 3,7 billion of euros for the construction of the Tyrrhenian Link, the submarine electrical connection which will link the Italian peninsula to Sicily (the so-called “East Branch,” whose first cable will be operational by the end of 2025) and the latter to Sardinia (the “West Branch”). The work will be fully operational in 2028. 250 companies will be involved in the implementation of the project, with important repercussions for the territories involved. The connection will take place via a double submarine cable approximately 970 km long and with a direct current capacity of 1.000 MW. The objective of the infrastructure is to increase energy security and encourage the development of renewables.
Terna and the EIB together to carry out a strategic project
“As world leaders gather in Egypt for COP27, the EIB, as the EU's Climate Bank, is delighted to have signed the first €500m tranche to support the construction of the Tyrrhenian Link, a work of great strategic importance” he underlined Jasmine Vigliotti, EIB Vice-President.
“We are particularly satisfied that the European Investment Bank has recognized the strategic nature of the Tyrrhenian Link, the most important project in the world for the transmission of electricity under the sea, a work of Italian engineering excellence which will significantly accelerate the development of renewable sources”, he commented Stefano Donnarumma, CEO of Terna.
