The European Investment Bank and the Italian grid operator Terna agreed on 19 November a €490 million support for investments that will modernize the country’s electricity transmission grid.

The 22-year loan is part of Terna’s financial structure optimization policy, and will be allocated to support asset components replacement investments, as well as the adoption of eco-friendly solutions.

“This operation confirms the commitment of the European Union’s bank in upgrading the crucial sector of electricity grids. It also further strengthens the EIB’s fruitful partnership with Terna: in the last few years the bank has supported the company’s key investment plans in transmission-grid modernisation and development and in cross border high quality projects such as the Italy-France interconnection”, said Dario Scannapieco, Vice-President of the EIB.

This financing brings the EU bank’s loans to Terna to €2.15 billion.