Terna has signed today with the European Investment Bank (EIB) the contracts relating to second e third tranche of the financing of 1,9 billion euros for the Tyrrhenian Link, the submarine electrical connection which will link the Italian peninsula to Sicily and the latter to Sardinia.
The two contracts from total value of 900 million euros are added to the first loan of 500 million euros disbursed on 8 November 2022. The loan will be used for the construction and commissioning of the "East Branch" and the "West Branch" of the Tyrrhenian Link.
Terna and the EIB together to carry out a strategic project
I Loansof a duration of approx 22 years from the first date of disbursement, are characterized by a longer duration and by more competitive costs compared to those of the market, thus falling within the policy of optimization of the financial structure of Terna. With this new operation, the total outstanding loans between Terna and the EIB rise to approximately 3,4 billion euro.
In fact, Terna expects a total investment of approx 3,7 billion euros for the construction of the Tyrrhenian Link which will be operational in 2028. The infrastructure is the most important work among those included in the business plan 2021-25 company.
The Tyrrhenian Link project
Il Tyrrhenian Link, included in Terna's National Electricity Grid Development Plan since 2018, is a cutting-edge project that involves the construction of two submarine power lines (one from Campania to Sicily and one from Sicily to Sardinia) for a total of 950 km of 1000 MW connection in direct current.
In intent, once completed, the work will lead to an improvement in the electricity exchange capacity between Campania, Sicily and Sardinia, but also a more effective use of energy flows from renewables, which are constantly increasing. Furthermore, it will play a decisive role in improving the reliability of the grid and the entire electricity system.
