(AGENPARL) – gio 08 febbraio 2024 TERNA: EIB PROVIDES THE LAST TRANCHE OF THE €1.9 BILLION
FINANCING FOR THE TYRRHENIAN LINK
This loan will foster the development of renewable energy sources and grid reliability and promote
energy security.
The Tyrrhenian Link – a 970 km, 1,000 MW double submarine cable – will connect Sicily and
Sardinia with the Italian mainland.
The €500 million finance contract signed in addition to the €1.4 billion previously disbursed via
loans signed in November 2022 and March 2023.
Rome/Luxembourg, 8 February 2024 – On the sidelines of the second edition of the EIB Forum in
Luxembourg, which brings together Heads of State, EU Commissioners, business leaders, academics and
civil society representatives, the European Investment Bank (EIB) and Terna signed the contract for the final
tranche of the €1.9 billion financing of the Tyrrhenian Link, the submarine electricity cable connecting the Italian
mainland with Sicily and Sardinia. At the EIB Forum, a meeting took place between EIB Vice-President
Gelsomina Vigliotti and CEO and General Manager of Terna, Giuseppina Di Foggia, to discuss future
collaboration in support of the energy transition and REPowerEU objectives.
This final tranche of €500 million, in addition to the previous finance contracts signed on 8 November 2022
(first tranche of €500 million) and 30 March 2023 (second and third tranches, totalling €900 million), will support
the construction and commissioning of the East and West sections of the Tyrrhenian Link. By connecting Sicily
and Sardinia with the Italian mainland via a 970 km, 1,000 MW double submarine cable, the Tyrrhenian Link
will foster the development of renewable sources, grid reliability and promote energy security in Italy.
Terna plans to invest around €3.7 billion in total for this infrastructure, which is key for Italy’s energy security.
Around 50% of the project cost will be financed by the EIB, demonstrating the strategic nature of the project.
The Tyrrhenian Link will be fully operational in 2028. Some 250 companies will be involved in its
implementation, which will have a significant impact in the regions concerned.
With terms of around 22 years from each drawdown, the loans have a longer maturity and more competitive
costs than those generally available on the market. This puts them in alignment with Terna’s policy to optimise
its financial structure. This operation brings total EIB financing for Terna to around €3.8 billion.
Background information
European Investment Bank (EIB)
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member
States. It finances sound investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive
innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift
transition to climate neutrality. In the last five years, the EIB Group has provided more than €58 billion in financing for
projects in Italy
Terna
The Terna Group is one of the leading European and global electricity transmission operators. It manages Italy’s national
high-voltage transmission grid, with around 75,000 km of power lines over 900 electrical substations across the country.
Its mission is to guarantee the secure operation, quality and efficiency of the Italian electricity system 24 hours a day, 365
days a year, and to ensure equal access conditions for all market operators. A centre of excellence comprising over 5,700
professionals, Terna plays a guiding role in the energy transition process towards complete decarbonisation and the full
integration of energy from renewable sources into the grid. For further information, please see http://www.terna.it.
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