TERNA
Italy's electricity transmission system operator, responsible for managing and developing the country's high- and extra-high-voltage grid.
Last updated August 31, 2026
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Overview
Terna Group, legally Terna S.p.A., is the Italian electricity transmission system operator headquartered in Rome. Its core regulated role is to own, operate, maintain, plan and develop the national high- and extra-high-voltage electricity transmission network. Through its grid-management activities, Terna balances electricity supply and demand in real time, coordinates power flows, supports system security and resilience, and facilitates the connection of renewable-generation capacity to the Italian network. Terna was created on 31 May 1999 within the Enel Group as part of Italy's electricity-sector liberalization. Legislative Decree No. 79/1999 required the separation of ownership and management of the national transmission grid from other electricity activities. The company was subsequently privatized through an initial public offering on the Borsa Italiana in June 2004. In November 2005 it acquired a major business unit from GRTN, the former state electricity system operator, strengthening its role as the independent national transmission operator. Cassa Depositi e Prestiti later became the group's relative majority shareholder through CDP Reti. The group operates approximately 75,905 kilometres of power lines, around 98% of Italy's high-voltage transmission grid, together with hundreds of transformation and switching stations, national and regional control centres, and interconnections with neighbouring countries. Its infrastructure portfolio includes the SA.PE.I. submarine link between Sardinia and mainland Italy, the Italy-Montenegro interconnection, the Italy-Austria connection, and the Italy-France Piedmont-Savoy project. Terna is also developing large domestic projects such as the Tyrrhenian Link between Campania, Sicily and Sardinia and the Adriatic Link between Marche and Abruzzo. These investments are intended to improve regional integration, reduce congestion, increase resilience and accommodate a larger share of variable renewable energy. The regulated transmission business is complemented by non-regulated activities. Terna Plus and Terna Energy Solutions pursue opportunities involving energy-transition services, photovoltaic systems, energy efficiency, smart grids, connectivity, fibre optics, transformers, underground cables and related technical solutions. International activities have included infrastructure and advisory work in Peru, the United States and Montenegro. In 2025, the group's system-integration activities were reorganized through Altenia, which brought together capabilities previously distributed among several subsidiaries. Terna is listed on the Italian Stock Exchange and forms part of the FTSE MIB index. Its business is regulated in Italy by the Regulatory Authority for Energy, Networks and Environment. The company presents itself as an infrastructure operator supporting decarbonization, electrification and energy security rather than as a conventional electricity retailer or generation company. Its strategic development plans emphasize high-voltage direct-current technology, cross-border interconnection, digital control systems, biodiversity protection and the modernization of aging infrastructure. Terna also established the Terna Foundation in 2024 to promote energy literacy, combat energy poverty and support access to employment and professional opportunities in the energy sector.
History
Terna was established on 31 May 1999 inside the Enel Group in response to Italy's electricity-sector liberalization. Legislative Decree No. 79/1999 separated transmission-grid ownership and management from competitive electricity activities. This institutional separation created the basis for an independent national transmission system operator. A major change came in June 2004, when Terna was sold to public investors through an initial public offering on the Borsa Italiana. In November 2005, following a government decision, the company acquired a transmission-related business unit from GRTN. The transaction expanded Terna's responsibilities and helped establish its position as the central operator of Italy's national high-voltage system. Cassa Depositi e Prestiti became the company's relative majority shareholder. During the following decade, Terna broadened its infrastructure and international outlook. It joined the Desertec initiative in 2010 and reorganized in 2011 into a holding structure supervising Terna Rete Italia, focused on regulated grid operations, and Terna Plus, focused on new and non-traditional business. In 2013 it began work with France's RTE on the Piedmont-Savoy interconnection and developed the Capri-Torre Annunziata submarine cable. In 2015, Terna acquired the high-voltage network owned by FS Italiane, further consolidating the national transmission system and raising its ownership to approximately 98% of Italy's grid. Terna subsequently invested in cross-border links, renewable integration and lower-impact infrastructure. The Italy-Montenegro interconnection opened in 2019. The company also advanced the SA.CO.I.3 project linking Italy, Corsica and Sardinia, the Italy-Austria connection, and the Italy-France Piedmont-Savoy line, which became operational in 2023. Its SA.PE.I. connection between Sardinia and mainland Italy is among the world's longest submarine electricity cables. Financing for grid modernization increasingly incorporated sustainable-finance instruments. In July 2018 Terna issued a 750-million-euro green bond, described in the reference material as the first such issue by an Italian utility. It followed with green hybrid bonds in 2022 and 2024. These instruments were associated with investments in efficiency, resilience and environmental performance, although the sources supplied for this dossier do not provide a complete financial-results series. In 2022 and 2023 Terna launched or advanced major domestic projects, including the Tyrrhenian Link and Adriatic Link, and activated the Elba-Piombino submarine connection. Its 2023–2032 Development Plan proposed more than 30 infrastructure projects and introduced Hypergrid, a proposed HVDC-based architecture intended to increase exchange capacity and assist Italy's energy transition. The plan was subsequently updated in 2025. Governance changed in April 2023 when Giuseppina Di Foggia became chief executive officer and general manager. The company continued to combine its regulated transmission role with non-regulated activities in energy solutions, connectivity, engineering and related infrastructure services. Terna Plus has pursued activities in Peru and the United States, while Terna Energy Solutions has supported photovoltaic, energy-efficiency, smart-grid, transformer and cable businesses. In November 2024 Terna agreed to acquire part of the high-voltage network in metropolitan Rome from Areti, an Acea-controlled company. In March 2025 the group reorganized its system-integration operations under Altenia. The Terna Foundation, established in July 2024 and publicly presented in 2025, added a social and educational dimension to the group's profile, with programmes concerning energy literacy, energy poverty and access to energy-sector employment. Terna therefore operates today as a large regulated infrastructure group whose strategic priorities are grid security, renewable-energy integration, digitalization, cross-border interconnection and the decarbonization of Italy's electricity system.
- 2025
Altenia reorganization
[1]System-integration activities from several group companies were brought together under Altenia.
- 2024
Agreement for Rome grid assets
[1]Terna signed a binding agreement with Areti concerning the acquisition of part of the high-voltage network in metropolitan Rome.
- 2023
New development plan and leadership
[1]Terna appointed Giuseppina Di Foggia as CEO and launched its 2023–2032 Development Plan, including the Hypergrid concept.
- 2019
Italy-Montenegro interconnection opens
[1]The new cross-border link entered operation, improving electricity exchange between Italy and Montenegro.
- 2018
First Italian utility green bond
[1]Terna issued a 750-million-euro green bond for eligible infrastructure and environmental investments.
- 2015
FS Italiane grid acquisition
[1]Terna acquired the railway group's high-voltage grid and expanded its ownership of Italy's national transmission network.
- 2011
Operating-company reorganization
[1]The group established Terna Rete Italia and Terna Plus as wholly owned operating subsidiaries.
- 2005
GRTN business transfer
[1]Terna acquired a major business unit from GRTN, reinforcing its role in national transmission operations.
- 2004
Initial public offering
[1]Terna was offered to investors on the Borsa Italiana following the government's sale decision.
- 1999
Terna is established within Enel
[1]Terna was created on 31 May 1999 to implement the separation of Italy's transmission-grid ownership and management from other electricity activities.
Products and positioning
A regulated, independent electricity-grid infrastructure operator supporting Italian energy security, renewable integration, electrification and decarbonization.
Electricity transmission · 1999
Italian high- and extra-high-voltage transmission grid
Terna's principal offering is the operation and development of Italy's national transmission network. The system carries electricity over long distances, connects generators and distribution networks, supports real-time balancing, and provides the infrastructure needed to integrate renewable generation. The supplied reference describes approximately 75,905 kilometres of lines, 926 transformation and switching stations, a national control centre, regional control centres and 30 international interconnections.
Submarine interconnection
SA.PE.I.
SA.PE.I. is the high-capacity submarine electricity connection between Sardinia and mainland Italy. The reference material identifies it as approximately 435 kilometres long with a capacity of 1,000 MW, making it one of the world's longest underwater power cables and an important component of island-grid security.
Cross-border interconnection · 2023
Piedmont-Savoy interconnection
Developed by Terna and France's RTE, the Piedmont-Savoy project increases electricity exchange capacity between Italy and France. The project was designed with sections and technologies intended to limit landscape and environmental impacts, and the connection became operational in 2023.
Domestic interconnection · 2022
Tyrrhenian Link
The Tyrrhenian Link is a major submarine and land-based transmission project connecting areas of southern Italy, including Campania, Sicily and Sardinia. It is intended to improve the transfer of electricity across the Tyrrhenian area, support renewable-energy integration and strengthen security of supply.
Domestic interconnection · 2023
Adriatic Link
The Adriatic Link is a planned transmission connection between Marche and Abruzzo. It is part of Terna's broader programme to reduce congestion between Italian regions and create additional capacity for electricity produced from renewable sources.
Energy-transition services
Terna Energy Solutions
Through Terna Energy Solutions and associated companies, the group pursues non-regulated activities involving photovoltaic installations, energy efficiency, smart grids, connectivity, fibre optics, transformers and underground cables. These activities complement, but are distinct from, the regulated national transmission-system business.
Marketing campaigns
- 2024Terna Foundation
Italy
The Terna Foundation was established to promote energy literacy, address energy poverty and encourage access to employment and professional opportunities in the energy sector. Its activities include educational initiatives aimed at younger generations.
Outcome. The foundation was publicly presented in 2025 as a platform for inclusion and wider access to energy knowledge and careers.
- 2010Desertec participation
Italy · Europe · Middle East and North Africa
Terna joined the Desertec initiative, which promoted renewable-energy generation in the Middle East and North Africa and the potential transmission of part of that electricity into interconnected European systems.
Outcome. Terna's participation connected its transmission expertise with a broader international renewable-energy infrastructure initiative.
Brand decisions
2025
Reorganization of system-integration activitiesStrategyBackground
Terna sought to consolidate capabilities in its non-regulated energy-solutions business.
Action taken
The group established Altenia by bringing together system-integration activities previously managed by LT, Terna Energy Solutions and Avvenia.
Aftermath
The reorganization created a more centralized platform for system-integration services within the group.
2024
Agreement to acquire Areti transmission assetsM&ABackground
The transaction was intended to streamline and unify management of high-voltage infrastructure in the Rome metropolitan area.
Action taken
Terna signed a binding agreement with Areti, which is controlled by Acea, to acquire part of the area's high-voltage power grid.
Aftermath
The agreement marked a further step toward consolidation of Italy's transmission-grid ownership and management.
2023
2023–2032 Development Plan and HypergridStrategyBackground
The energy transition required increased transmission capacity, stronger interregional connections and more effective integration of variable renewable generation.
Action taken
Terna presented a plan containing more than 30 infrastructure projects and proposed the Hypergrid architecture using high-voltage direct-current technology.
Aftermath
The plan became the framework for major domestic and international transmission investments and was updated in 2025.
2022
Launch of the Tyrrhenian LinkGeneration changeBackground
Italy needed additional transmission capacity to connect southern regions and integrate increasing renewable generation.
Action taken
Terna launched the Tyrrhenian Link interconnection project between Campania, Sicily and Sardinia.
Aftermath
The project became part of Terna's wider national grid-development programme.
2018
Issue of the first green bondStrategyBackground
Terna sought financing for grid-efficiency and environmental-protection investments while developing its sustainable-finance programme.
Action taken
The company issued a green bond with a stated value of 750 million euros in July 2018.
Aftermath
The transaction was described as the first green-bond issue by an Italian utility; additional green hybrid bonds were issued in 2022 and 2024.
Green bond issuance. EUR 750 million (July 2018)
Recent events
- 2025
Terna reorganizes energy-solutions activities through Altenia[1]
Other
The group combined system-integration capabilities previously managed across several subsidiaries into Altenia.
- 2025
Terna reorganised its energy-solutions activities[1]
Other
The group established Altenia to combine system-integrator activities previously managed by LT, Terna Energy Solutions and Avvenia.
- 2024
Terna signs agreement to acquire part of Rome's high-voltage grid from Areti[1]
M&A
Terna signed a binding agreement with Acea-controlled Areti to acquire selected high-voltage assets in the Rome metropolitan area.
- 2024
Terna agreed to acquire part of the Rome-area high-voltage grid[1]
M&A
Terna signed a binding agreement with Areti, controlled by Acea, to acquire part of the metropolitan Rome transmission network.
- 2024
Terna's grid-development plans emphasize renewable integration and energy security[3]
Other
Terna's development planning focuses on expanding and modernizing the transmission network to accommodate renewable generation, improve resilience and address regional electricity-system constraints.
- 2024
Terna continues investment in electricity interconnections and grid modernization[4]
Other
The company continued work on domestic transmission projects and cross-border links intended to improve system security, market integration and the movement of renewable electricity.
- 2023
Giuseppina Di Foggia becomes Terna chief executive[1]
Leadership change
Di Foggia was appointed chief executive officer and general manager, becoming the first woman to lead a major publicly listed Italian company.
- 2023
Terna publishes its 2023–2032 Development Plan[1]
Other
The plan presented a large programme of domestic and international transmission investments, including the Hypergrid concept based on HVDC technology.
- 2023
Giuseppina Di Foggia appointed chief executive[1]
Leadership change
Di Foggia became CEO and general manager, becoming the first woman to head a major publicly listed Italian company.
- 2023
Terna launched its 2023–2032 grid-development plan[1]
Other
The plan identified more than 30 infrastructure initiatives, including the Hypergrid programme for greater exchange capacity and renewable integration.
Showing the 10 most recent.
Sources5 sources
- 1Terna Groupen.wikipedia.org
- 2Terna corporate websiteterna.it
- 3Terna's grid-development plans emphasize renewable integration and energy securityterna.it
- 4Terna continues investment in electricity interconnections and grid modernizationterna.it
- 5Terna appoints Giuseppina Di Foggia as chief executive officerterna.it
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