Terna has sold the entire portfolio of power lines in South America (1.200 kilometers of networks distributed in Brazil, Perù e Uruguay) for over 265 million euro. The operation will allow the group to create a capital gain of over 60 million of Euro. The purchaser is the Caisse de dépôt et placement du Québec (Cdpq), an institutional investor who manages several public and parapublic pension plans and insurance programs in Quebec.
“Terna will now refocus its international presence on markets with attractive growth potential and low risk, as announced with the update of the 2021-2025 Business Plan”, commented Giacomo Donnini, director of large projects and international development at Terna.
The operation will conclude with a multi-stage process, which will mostly take place in the second half of the 2022 and will require the fulfillment of some conditions.
As for CDPQ, the acquisition of these assets will allow the group "to enter the energy transmission market in South America with a strong managerial team - reads Terna's note - capable of pursuing future growth opportunities and in line with the climate strategy and with the aim of achieving a reduction of carbon intensity in its portfolio equal to 60% by 2030”.
Emmanuel Jaclot, executive vice president and head of infrastructure at CDPQ, added: “With this first investment in power transmission in Brazil, Peru and Uruguay, we are laying the foundations for a new CDPQ platform dedicated to power transmission in South America, with the aim of becoming one of the leaders in this crucial sector of the economy. We are determined to lead the development of grids connecting new renewable energy projects to customers across the region, a goal aligned with our South America and portfolio decarbonization strategies.”
