“Driving Energy”: Terna presents the Group’s 2021-2025 Industrial Plan Update

Posted by Jim smith on April 19th, 2022

Terna\'s Board of Directors, chaired by Valentina Bosetti, met on 24 March 2022 to examine and approve the Group\'s 2021-2025 Industrial Plan Update. \"A major increase in investment in developing and modernising the electricity grid, further strengthening the Group\'s role in driving the energy transition\", CEO and General Manager Stefano Donnarumma said while presenting the Update.

Terna\'s 2021-2025 Industrial Plan Update: +10 billion euros in investment

Promoting decarbonisation through the integration of renewables and the electrification of consumption. With this in mind, Terna continues to accelerate its commitment to the energy transition of Italy, while contributing to the country\'s decarbonisation and energy independence. This is the picture which emerges from the Update of the Group\'s 2021-2025 Industrial Plan, which was presented on 24 March 2022. With a further capex acceleration of 10 billion euros, the company led by CEO and General Manager Stefano Donnarumma will strengthen its role in driving the Italian electricity system, in accordance with the objectives set in the PNIEC (Italy\'s Integrated Energy and Climate Plan) and the targets in the European Green Deal, which aim to reach a greenhouse gas emission reductions target for 2030 of at least 55%. How is Terna accelerating its commitment? Sustainable investment is the key driver of \"Driving Energy\", the Group\'s 2021-2025 Industrial Plan: the company\'s capital expenditure - 99% of which is classified as sustainable according to the EU Taxonomy - targets the development of renewable sources. With regard to this, the decarbonisation goals set in the Green Deal require the installation of approximately 60-70 GW of renewable capacity (wind and photovoltaic) by 2030.

Terna\'s CEO Stefano Donnarumma: \"Our capital expenditure will allow us to integrate renewable sources and electrify consumption\"

The Update of the 2021-2025 Industrial Plan is \"a major increase in investment in developing and modernising the electricity grid, further strengthening Terna\'s role in driving the energy transition\", CEO and General Manager Stefano Donnarumma said during the presentation. He also pointed out that \"an even more sustainable future with zero emissions\" and \"a plan to make the Country more energy independent thanks to more rapid development of renewable energy\" are the goals which the company has set itself, forming the basis for the Update of \"Driving Energy\". \"Goals that mark a concrete commitment both as a business and as a public service provider\", the CEO and General Manager added, while stressing that Terna is \"a company that provides a public service for the Country and the community, for the benefit of all the geographical areas in which we operate and the environment\". Its capital expenditure has \"a key role to play in enabling Italy and Europe to meet the goals that have been set\", he observed, and \"will allow us to integrate renewable sources and electrify consumption and to guarantee ever greater security and efficiency of supply, a system that is fit for purpose and improved quality of service, whilst cutting costs for consumers and businesses\". As explained during the presentation, the Group\'s capital expenditure will also target the development of new interconnectors with foreign countries (France, Austria, Tunisia and Greece), joining the 26 existing cross-border power lines. This will enable Italy to reinforce its role as a European and Mediterranean electricity transmission hub.