Terna Group

On 31 May 1999, Terna was established within the Enel Group, by way of implementation of Italian Legislative Decree No. 79/99[http://www.oecd.org/document/59/0,3343,en_2649_34833_38683707_1_1_1_37463,00.html Oecd - Economic survey of Italy 2007: Enhancing competition and productivity in services] which within the context of the process for the deregulation of the Italian electricity sector, sanctioned the separation between ownership and management of the national transmission grid.{{cite web |url=https://www.gazzettaufficiale.it/eli/id/2004/05/18/04A05192/sg |title=Italian Legislative Decree No. 79/99 |language=IT |access-date=21 February 2025}}

On 23 June 2004, following the Prime Minister's Decree issued on 11 May of the same year, Terna was put on sale with an IPO on Borsa Italiana.{{cite web |url=https://www.borsaitaliana.it/borsa/azioni/scheda/IT0003242622.html?lang=en |title=Terna IPO on Borsa Italiana |language=IT |access-date=21 February 2025}}

In November 2005, Terna acquired a business unit from GRTN, as defined by the Prime Ministerial Decree of 11 May 2004. Cassa Depositi e Prestiti became the relative majority shareholder.{{cite web |url=https://www.agcm.it/dotcmsCustom/getDominoAttach?urlStr=192.168.14.10:8080/41256297003874BD/0/F717D13ECA38297AC125703100529CBA/$File/p14421.pdf |title=CDP becomes majority shareholder of Terna |language=IT |access-date=21 February 2025}}

In 2010 Terna joined Desertec, a project aimed at producing and transmitting renewable energy in the Middle East and North Africa (MENA) to meet local needs and be assigned in part to the European interconnected grid.{{cite web |url=https://www.rechargenews.com/wind/italian-grid-owner-terna-joins-desertec-industrial-initiative/1-1-847508 |title=Italian Grid Owner Terna Joins Desertec Industrial Initiative |access-date=21 February 2025}}{{cite web |url=https://www.repubblica.it/news/ambiente/rep_rinnovabili_anche-terna-entra-in-desertec-il-mega-progetto-per-il-sole-sahariano-403291.html |title=Anche Terna entra in Desertec, il mega progetto per il sole sahariano |language=IT|access-date=21 February 2025}}

In 2011, the Terna Group reorganized its corporate structure, establishing a holding company overseeing two fully owned operational subsidiaries: Terna Rete Italia and Terna Plus, each with its own CEO and board of directors.{{cite web |url=https://www.notiziariofinanziario.com/la-storia-del-ftse-mib-e-la-nascita-di-terna-spa/?amp |title=The history of FTSE MIB and the foundation of Terna S.p.A. |language=IT|access-date=21 February 2025}}

In 2013, Terna initiated strategic projects, including the “Capri-Torre Annunziata” submarine cable connecting Capri to mainland Italy.{{cite web |url= https://www.ansa.it/web/notizie/canali/energiaeambiente/energietradizionali/2013/06/07/via-lavori-elettrodotto-marino-Terna-Capri_8834543.html|title=Al via lavori elettrodotto marino Terna per Capri|language=Italian|access-date=21 February 2025}}{{cite web |url= https://www.firstonline.info/en/progetto-insula-al-via-i-lavori-del-collegamento-elettrico-capri-torre-annunziata/|title=Insula Project: work on the “Capri-Torre Annunziata” electrical connection is underway|language=|access-date=21 February 2025}} The same year, Terna and its French counterpart RTE began work on enhancing the Italy-France interconnection via the new “Piedmont-Savoy” line,{{cite web |url= https://www.ecologiae.com/terna-rte-linea-elettrica-italia-francia-sotterranea/69880/|title=Terna-Rte, al via la linea elettrica Italia-Francia sotterranea|language=Italian|access-date=21 February 2025}}{{cite web |url= https://www.firstonline.info/en/Terna-awarded-for-the-new-Italy-France-interconnection-project/|title=Terna awarded for the new Italy-France interconnection project|language=|access-date=21 February 2025}} which became operational in 2023.{{cite web |url= https://www.pv-magazine.it/2023/08/07/attiva-nuova-interconnessione-elettrica-francia-italia/|title=Attiva nuova interconnessione elettrica Francia-Italia|language=Italian|access-date=21 February 2025}}

In 2015, Terna acquired the high-voltage grid of the FS Italiane Group{{cite web |url= https://www.ilfattoquotidiano.it/2015/12/09/terna-la-societa-di-cassa-depositi-e-prestiti-compra-rete-elettrica-di-ferrovie-dello-stato-per-757-milioni/2291560/|title=Terna, la società di Cassa depositi e prestiti compra rete elettrica di Ferrovie dello Stato per 757 milioni|language=Italian|access-date=21 February 2025}} and started developing new national and international interconnection infrastructures, including SA.CO.I.3 (Italy-Corsica-Sardinia){{cite web |url= https://ntplusentilocaliedilizia.ilsole24ore.com/art/terna-appalto-350-milioni-il-collegamento-hvdc-sardegna-corsica-e-toscana-ACrPPXU|title=Terna: appalto da 350 milioni per il collegamento Hvdc tra Sardegna, Corsica e Toscana|language=Italian|access-date=21 February 2025}}{{cite web |url= https://www.cabletechnologynews.co.uk/authorisation-of-submarine-power-line-connecting-sardinia-corsica-and-tuscany/|title=Authorisation of submarine power line connecting Sardinia, Corsica and Tuscany|language=|access-date=21 February 2025}} and links with Montenegro (inaugurated in 2019){{cite web |url= https://www.ilsole24ore.com/art/terna-collaudo-cavo-sottomarino-il-montenegro-ACISRfd|title=Terna, al collaudo il cavo sottomarino con il Montenegro|language=Italian|access-date=21 February 2025}}{{cite web |url= https://emerging-europe.com/analysis/terna-launches-italy-montenegro-undersea-power-interconnection/|title=Terna launches Italy-Montenegro undersea power interconnection|language=Italian|access-date=21 February 2025}} and Austria (operational in 2023).{{cite web |url=https://finanza.lastampa.it/News/2023/12/15/terna-entrata-in-esercizio-linterconnessione-italia-austria/MTAzXzIwMjMtMTItMTVfVExC |title=Italy-Austria interconnector enters into operation |access-date=21 February 2025}}{{cite web |url= https://renewablesnow.com/news/italy-austria-interconnector-enters-into-operation-843555/|title=Italy-Austria interconnector enters into operation|language=|access-date=21 February 2025}}

To support efficiency improvements and environmental protection investments in its national infrastructure, Terna issued its first Green bond worth €750 million in July 2018,{{cite web |url= https://www.repubblica.it/economia/rapporti/energitalia/sostenibilita/2018/07/18/news/terna_maxi_richieste_per_il_green_bond_da_750_milioni-202108874/|title=Terna: maxi richieste per il green bond da 750 milioni|language=Italian|access-date=21 February 2025}} becoming the first Italian utility to do so.{{cite web |url= https://www.qualenergia.it/articoli/terna-lancia-con-successo-il-suo-primo-green-bond-per-investitori-istituzionali/|title=Terna lancia con successo il suo primo green bond per investitori istituzionali|language=Italian|access-date=21 February 2025}} Additional green hybrid bonds followed in 2022 (€1 billion){{cite web |url= https://www.ansa.it/ansa2030/notizie/finanza_impresa/2022/02/02/terna-green-bond-ibrido-da-1-miliardo-richieste-per-4-mld_ec775581-63fc-4fa0-84a4-60a3f4f4fa93.html|title=Terna: green bond ibrido da 1 miliardo, richieste per 4 mld|language=Italian|access-date=21 February 2025}} and 2024 (€850 million).{{cite web |url=https://finanza.lastampa.it/News/2024/04/04/terna-colloca-green-bond-ibrido-perpetuo-per-850-milioni-di-euro/MTkzXzIwMjQtMDQtMDRfVExC |title=Terna issues €850M Green Bond |access-date=21 February 2025}}

In 2022, Terna launched the Tyrrhenian Link interconnection project between Campania and Sicily,{{cite web |url= https://finanza.lastampa.it/News/2023/09/12/tyrrhenian-link-autorizzata-dal-mase-la-tratta-ovest-fra-sicilia-e-sardegna/MzlfMjAyMy0wOS0xMl9UTEI|title=Tyrrhenian Link, autorizzata dal MASE la tratta Ovest fra Sicilia e Sardegna|language=Italian|access-date=21 February 2025}}{{cite web |url= https://www.smart-energy.com/finance-investment/tyrrhenian-link-interconnection-secures-final-financing/|title=Tyrrhenian Link interconnection secures final financing|language=|access-date=21 February 2025}} followed in 2023 by the Adriatic Link project between Marche and Abruzzo.{{cite web |url= https://www.la7.it/otto-e-mezzo/video/una-grande-opera-che-finalmente-si-fa-13-10-2022-455645|title=Una grande opera che finalmente si fa|language=Italian|access-date=21 February 2025}}{{cite web |url= https://www.ilsole24ore.com/art/terna-dall-interconnessione-la-grecia-all-adriatic-link-cosi-gruppo-ridisegna-e-rafforza-rete-elettrica-AFgTfXdC|title=Terna, dall’interconnessione con la Grecia all’Adriatic Link: così il gruppo ridisegna (e rafforza) la rete elettrica|language=Italian|access-date=21 February 2025}} That year, Terna also activated the submarine connection between Elba Island and Piombino.{{cite web |url= https://www.ilsole24ore.com/art/terna-esercizio-elettrodotto-isola-d-elba-e-piombino-AFQGrpj|title=Terna, in esercizio elettrodotto tra isola d’Elba e Piombino|language=Italian|access-date=21 February 2025}} Internationally, the company developed the world's longest direct-current cable laid along a highway between Italy and France{{cite web |url= https://finanza.lastampa.it/News/2017/07/05/terna-accordo-con-interconnector-italia-per-cavo-con-francia/ODlfMjAxNy0wNy0wNV9UTEI|title=Terna, accordo con Interconnector Italia per cavo con Francia|language=Italian|access-date=21 February 2025}} and initiated the first submarine direct-current connection between Europe and North Africa, linking Italy and Tunisia.{{cite web |url= https://formiche.net/2023/01/elmed-italia-tunisia-terna-steg/|title=Che cos’è Elmed, il collegamento elettrico sottomarino tra Italia e Tunisia|language=Italian|access-date=21 February 2025}}{{cite web |url= https://www.offshore-energy.biz/e307-million-set-aside-for-italy-tunisia-subsea-interconnection/|title=€307 million set aside for Italy-Tunisia subsea interconnection|language=|access-date=21 February 2025}}

In April 2023, Giuseppina Di Foggia was appointed CEO and General Manager, becoming the first woman to lead a major publicly listed Italian company.{{cite web |url=https://www.corriere.it/economia/finanza/23_maggio_09/terna-prima-ceo-donna-entra-carica-nominata-giuseppina-foggia-f6fcd306-ee9a-11ed-a775-dde3d50a6495.shtml |title=Giuseppina Di Foggia appointed first female CEO of Terna|language=Italian |access-date=21 February 2025}}{{cite web |url= https://ansabrasil.com.br/english/news/business/2023/04/13/di-foggia-makes-history-with-terna-appointment_70d48085-0dd5-441c-bccd-74c6de329db9.html|title=Di Foggia makes history with Terna appointment|access-date=21 February 2025}} The same year, Terna launched its 2023-2032 Development Plan,{{cite web |url= https://www.primaonline.it/2023/03/15/375173/terna-approva-il-piano-di-sviluppo-2023-della-rete-di-trasmissione-nazionale/|title=Terna approva il Piano di Sviluppo 2023 della rete di trasmissione nazionale|language=Italian|access-date=21 February 2025}} featuring over 30 infrastructure projects, including the Hypergrid project,{{cite web |url=https://www.nsenergybusiness.com/company-news/terna-to-invest-e21bn-italian-electricity-system-over-10-years/ |title=Terna’s €21B investment plan for Italy’s electricity system |access-date=21 February 2025}} utilizing high-voltage direct current (HVDC) technologies to double exchange capacity and achieve Italy’s energy transition and security objectives.{{cite web |url= https://www.mase.gov.it/energia/energia-elettrica/rete-elettrica-di-trasmissione-nazionale/piano-di-sviluppo|title=Piano di Sviluppo della Rete elettrica di Trasmissione Nazionale e VAS|language=Italian|access-date=21 February 2025}}

As a Transmission System Operator, Terna is responsible for the transmission, management, and dispatching of electricity across the Italian high- and extra-high-voltage grid.{{cite web |url=https://www.treccani.it/enciclopedia/eol-terna-2/ |title=Terna-Treccani |language=IT |access-date=27 March 2025}} It ensures a constant balance between energy demand and supply while promoting the country’s energy and digital transition through the progressive decarbonization of the electricity system and increased integration of renewable energy sources.{{cite web |url=https://www.geopop.it/come-funziona-il-sistema-elettrico-nazionale-in-italia/ |title=Come funziona il sistema elettrico nazionale in Italia |language=IT |access-date=27 March 2025}}{{cite web |url=https://energiaoltre.it/ecco-come-terna-e-al-lavoro-per-una-rete-elettrica-sempre-piu-sostenibile/ |title=Ecco come Terna è al lavoro per una rete elettrica sempre più sostenibile |language=IT |access-date=27 March 2025}}

Terna plans, designs, and builds interconnection infrastructures within Italy and abroad to ensure the country’s energy security.{{cite web |url=https://forbes.it/2023/10/03/dalle-interconnessioni-con-lestero-agli-investimenti-sulla-digitalizzazione-il-piano-di-sviluppo-2023-di-terna/ |title=Dalle interconnessioni con l'estero agli investimenti sulla digitalizzazione: il piano di sviluppo 2023 di Terna |date=3 October 2023 |language=IT |access-date=27 March 2025}} It also maintains existing infrastructures and works to minimize their impact on biodiversity and landscapes.{{cite web |url=https://archivio.greenreport.it/news/economia-ecologica/sempre-piu-imprese-prendono-in-considerazione-gli-impatti-su-clima-e-natura-terna-nel-club-delle-piu-virtuose/ |title=Terna nel club delle imprese più virtuose per il clima e la natura |language=IT |access-date=27 March 2025}} Operating as a natural monopoly, Terna is regulated by the Italian Authority for Energy, Networks, and the Environment (ARERA).

Terna also engages in unregulated activities supporting the energy transition, primarily through Terna Energy Solutions and its subsidiaries.{{cite web |url=https://energiaoltre.it/terna-prosegue-la-crescita-degli-investimenti-a-beneficio-della-transizione-energetica/ |title=Terna prosegue la crescita degli investimenti a beneficio della transizione energetica |language=IT |access-date=27 March 2025}}

It provides services to companies in the energy and connectivity market with solutions in photovoltaic systems,{{cite web |url=https://finanza.lastampa.it/News/2021/10/18/energia-terna-energy-solutions-acquista-il-75percento-di-lt/ODdfMjAyMS0xMC0xOF9UTEI |title=Terna Energy Solutions acquista il 75% di LT |date=18 October 2021 |language=IT |access-date=27 March 2025}} energy efficiency,{{cite web |url=https://www.qualenergia.it/pro/articoli-pro/terna-sbarca-nel-mercato-dellefficienza-energetica/ |title=Terna sbarca nel mercato dell'efficienza energetica |language=IT |access-date=27 March 2025}} smart grids,{{cite web |url=https://www.corrierecomunicazioni.it/digital-economy/enea-al-fianco-di-terna-per-innovare-le-reti-elettriche-al-via-due-progetti-smart-grid/ |title=ENEA al fianco di Terna per innovare le reti elettriche: al via due progetti smart grid |language=IT |access-date=27 March 2025}} housing and hosting, fiber optics, and the production of transformers and underground cables.{{cite web |url=https://www.lasicilia.it/archivio/terna-da-attivita-non-regolate-contributo-a-ebitda-pari-a-450-mln-in-arco-piano-781203/ |title=Terna: da attività non regolate contributo a EBITDA pari a 450 milioni nel piano |language=IT |access-date=27 March 2025}}

File:Informazioni su un traliccio elettrico di Terna.jpg

Terna's assets include:

• 75,140 km of lines
• 910 transformation and switching stations
• 1 National Control Center (NCC)
• 4 Control centers
• 30 lines of interconnections with other countries (CTI)
• SA.PE.I. the longest underwater cable in the world (435 km), with a capacity of 1000 MW{{cite web |url= https://www.iltempo.it/economia/2011/03/21/news/terna-stende-il-maxi-cavo-elettrico-piu-energia-tra-lazio-e-sardegna-834571/|title=Terna stende il maxi cavo elettrico Più energia tra Lazio e Sardegna|language=Italian|access-date=28 February 2025}}{{cite web |url= https://www.ilsole24ore.com/art/da-capri-sicilia-cosi-terna-ha-cambiato-volto-elettrico-isole-AEe9tN3?refresh_ce|title=Da Capri alla Sicilia: così Terna ha cambiato il volto (elettrico) delle isole |language=Italian |access-date=28 February 2025}}

To safeguard its assets, Terna has created an organization capable of protecting the company's physical and technological infrastructures, also through the prevention and management of episodes of corporate fraud. In this framework, in order to guarantee the maximum safeguarding of said infrastructures and investments, it has signed memoranda of understanding, first of its kind and type with the Ministry of the Interior, Carabinieri and Guardia di Finanza.

The Terna Group includes:

• Directly controlled italian companies
• Terna Rete Italia S.p.A. (100% ownership)
• Rete S.r.l. (100% ownership)
• Terna Plus S.r.l. (100% ownership)
• Terna Energy Solutions S.r.l. (100% ownership)
• Terna Forward S.r.l. (100% ownership)
• Terna Interconnector S.r.l. (65% ownership)
• Directly Controlled Foreign Companies
• Terna Crna Gora d.o.o. (100% ownership)
• Companies evaluated using the Equity Method and participated by Terna S.p.A.
• CESI S.p.A. (42.69% ownership)
• CORESO S.A. (15.84% ownership)
• CGES (22.09% ownership)
• Equigy B.V (20% ownership)
• ELMED ÉTUDES Sarl (50% joint control)
• SEleNe CC S.A. (33.33% joint control)
• Companies controlled through Terna Energy Solutions S.r.l.
• Tamini Trasformatori S.r.l. (100% ownership)
• Avvenia The Energy Innovator S.r.l. (100% ownership)
• Brugg Kabel Services AG (100% ownership)
• LT S.r.l. (75% ownership)
• Companies controlled through Terna Plus S.r.l.
• Terna Chile S.p.A.
• Terna Peru S.A.C.
• Terna 4 Chacas S.A.C.
• SPE Transmissora de Energia Linha Verde I S.A.
• Terna USA LLC.

On April 1, 2009, Terna acquired 100% of Enel High Voltage Lines S.r.l. from Enel Distribuzione S.p.A. The company owned 18,583 kilometers of high-voltage electricity grid, purchased for €1,152 million. This acquisition brought Terna's ownership to 98.5% of the national grid.{{cite web |url= https://st.ilsole24ore.com/art/SoleOnLine4/Finanza%20e%20Mercati/2008/12/terna-enel-conquista.shtml?uuid=0eae20b0-ce79-11dd-8636-4510c8f2f211&DocRulesView=Libero|title=Terna conquista la rete dell'Enel per 1,15 miliardi|language=Italian|access-date=28 February 2025}}

Since 2009, Terna has managed these assets using the same approach previously adopted by Enel, outsourcing grid management to third-party companies through national tenders. These companies include Consorzio Arcobaleno, Consorzio Golden Lucano, and Siel.

Chairmen

• Francesco Tatò (1999-2002){{cite web |url= https://www.terna.it/DesktopModules/AdactoBackend/API/directdownload/get?file=0000/0114/27.PDF&popUp=true|title=Terna Bilancio 2001|language=IT|access-date=10 March 2025}}
• Fulvio Conti (2002-2005){{cite web |url= https://download.terna.it/terna/0000/0058/63.pdf|title=Terna Relazione 2004|language=IT|access-date=10 March 2025}}
• Luigi Roth (2005-2014){{cite web |url= https://www.cinquantamila.it/storyTellerArticolo.php?storyId=52fe2b99abb49|title=Biografia di Luigi Roth|language=IT|access-date=10 March 2025}}
• Catia Bastioli (2014-2020){{cite web |url= https://www.topmanagers.it/manager/catia_bastioli|title=Catia Bastioli Top managers|language=IT|access-date=10 March 2025}}
• Valentina Bosetti (2020-2023){{cite web |url= https://www.topmanagers.it/manager/valentina_bosetti|title=Valentina Bosetti Top managers|language=IT|access-date=10 March 2025}}
• Igor Di Biasio (from 2023){{cite web |url= https://www.repubblica.it/economia/2023/04/13/news/terna_de_blasio_di_foggia-396005694/|title=Terna, Giuseppina Di Foggia nuova ad, Igor Di Biasio presidente|language=IT|access-date=10 March 2025}}

Chief Executive Officers

• Sergio Mobili (1999-2005)
• Flavio Cattaneo (2005-2014){{cite web |url= https://www.corriere.it/economia/finanza/23_aprile_13/chi-flavio-cattaneo-manager-nominato-ad-enel-rai-nozze-sabrina-ferilli-2dc74ef0-d9ee-11ed-8793-d596ac419662.shtml|title=Chi è Flavio Cattaneo, il manager nominato ad di Enel|language=IT|access-date=10 March 2025}}
• Matteo Del Fante (2014-2017){{cite web |url= https://www.ilsole24ore.com/art/matteo-fante-confermato-ad-poste-AExXKgGD|title=Matteo Del Fante confermato ad di Poste|language=IT|access-date=10 March 2025}}
• Luigi Ferraris (2017-2020){{cite web |url= https://www.ilsole24ore.com/art/da-pwc-enel-e-terna-chi-e-luigi-ferraris-nuovo-ad-ferrovie-AEapY7L|title=Luigi Ferraris, il manager con la passione per il mare passato da Enel a Terna (e ora a Fs)|language=IT|access-date=10 March 2025}}
• Stefano Antonio Donnarumma (2020-2023){{cite web |url= https://www.adnkronos.com/economia/fs-chi-e-il-nuovo-ad-stefano-donnarumma-dallenergia-alle-ferrovie_5IC76vB385RaRJnf14nXiZ|title=Fs, chi è il nuovo ad Stefano Donnarumma: dall'energia alle ferrovie|language=IT|access-date=10 March 2025}}
• Giuseppina Di Foggia (from 2023)

Board members, appointed on May 9, 2023, for the 2023–2025 term:

• Igor De Biasio - Chairman
• Giuseppina Di Foggia - CEO and General manager
• Jean-Michel Aubertin, Regina Corradini D’Arienzo, Enrico Tommaso Cucchiani, Angelica Krystle Donati, Marco Giorgino, Gian Luca Gregori, Karina Audrey Litvack, Francesco Renato Mele, Qinjing Shen, Simona Signoracci, Anna Chiara Svelto

Terna has been listed in the Italian Stock Exchange since 2004. The main shareholders are:

• CDP Reti – 29.85%
• Retail – 13.9%
• Institutional investors – 56.3%

According to the Edison Electric Institute, Terna is the best European company among utilities by total return of shares in 2010–2012.[http://www.terna.it/LinkClick.aspx?fileticket=wvdNJL1SMds%3D&mid=154&tabid=1 Terna the best European utility for shareholder return] In these three years Terna's return stood at 24%, compared to average returns in the sector (DJ Stoxx-10%, Ftse Mib-21%). In 2010 Terna did receive the same recognition for the 2007–2009, as Terna's share return stood at +40%, achieving a net overperfomance (nearly 55%) compared to the European sector that registered -15%.

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