Latest news with #GiuseppinaDiFoggia
Yahoo
13-05-2025
- Business
- Yahoo
Terna, IPTO partner for new Italy-Greece electrical interconnection
Terna, the Italian national grid operator, has signed a three-year memorandum of understanding (MOU) with IPTO, the Greek Transmission System Operator (TSO), to develop a new electrical interconnection between the two countries, known as the GRITA 2 project. The agreement, signed in Rome during the Italy-Greece Intergovernmental Summit, sets the stage for a high-voltage direct current (HVDC) link between the countries. It will also augment existing assets and facilitate future network expansions. The MOU outlines a joint governance framework to strategise and coordinate project activities. The estimated investment by Terna and IPTO for this venture stands at €1.9bn. With a transmission capacity of up to 1GW, the link will span roughly 300km, including a subsea section extending up to 240km at depths reaching 1km. This initiative will bolster the existing 500MW connection that has been in operation since 2002. The connection will enhance energy security and support decarbonisation efforts in the Mediterranean region. The Italian terminus of the subsea cable will be located in Melendugno, with a new converter station planned for Galatina, both within the province of Lecce. Terna CEO and general manager Giuseppina Di Foggia said: "The new submarine power link between Italy and Greece will enhance energy security in southern Italy and facilitate efficient energy procurement by enabling new resources and maintaining energy exchange between the two countries. Operating alongside the existing interconnection, which has been in service since 2002, this project will further increase the efficiency of electricity transmission." Future agreements will cover the joint management of procurement for the cable and converter station, as well as the overall implementation of the project. The GRITA 2 project is already part of the European TSOs' ten-year network development plan for 2024 and has been proposed for inclusion in the second list of Projects of Common Interest/Projects of Mutual Interest. IPTO chairman and CEO Manos Manousakis said: "Electrical interconnectivity plays a vital role in advancing Europe's climate goals and clean energy transition. The new energy corridor between Greece and Italy will not only expand the capacity for electricity exchange but also bolster energy security and enhance the efficiency of the integrated European electricity market, delivering tangible benefits to consumers in both nations.' "Terna, IPTO partner for new Italy-Greece electrical interconnection" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-05-2025
- Business
- Yahoo
Power companies forced to respond to rapidly growing consumer trend: 'More and more attractive'
Renewable energy sources are growing at a rapid pace around the world, prompting power grid operators, such as Italy's Terna, to invest in necessary infrastructure upgrades. According to a recent Reuters report, Terna announced a €23 billion ($26 billion) investment over the next 10 years to support the country's electricity network. "Investing in planning, modernizing and digitizing electricity grids will be essential to cope with the growing demand for energy and the integration of renewable sources," said Chief Executive Giuseppina Di Foggia, per the article. She added that the goal was to "ensure that the country has a reliable, resilient and sustainable system." Around 80% of the world's energy is still produced using dirty fuels like oil, gas, and coal, but renewable sources are making headway. Ember electricity and data analyst Euan Graham told Reuters that in 2024, a record 32% of global electricity was powered by renewables. At the same time, electricity demand grew by 4% due to factors such as data center expansion and increased cooling needs amid rising global temperatures. The combination of growth in sources like wind, hydro, and solar has helped the world improve upon the previous year's record of 30% for renewable-based energy generation. Terna predicts that this new investment will increase the energy-exchange capacity between markets from 16 gigawatts to 39 gigawatts, resolving congestion issues and further securing and stabilizing the power grid. Grid modernization is occurring around the world, helping to keep up with the influx of these greener energy sources, as well as increased demand. This will help reduce energy costs for consumers and decrease planet-warming pollution at the same time. The Department of Energy announced that it would tackle Puerto Rico's dirty fuel problem by building out more sustainable sources to power the region. Several other U.S. systems are upgrading their power grid to accommodate both utility-scale additions and increased homeowner use of solar panels and battery storage systems. Do you think your city has good air quality? Definitely Somewhat Depends on the time of year Not at all Click your choice to see results and speak your mind. Terna added that its investments would help support the Italian government's goals to increase both solar and wind capacity by 65 gigawatts by 2030 and 94 gigawatts by 2034. "23 billion (euros of investments) is an important thing, because clearly this is the backbone of the national energy (system)," said Italy's Energy Minister Gilberto Pichetto Fratin in the report. "Countries are thinking about their security and energy security more than ever before and I think that means homegrown renewable power like wind and solar becomes more and more attractive," said Graham in a separate report. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Reuters
14-03-2025
- Business
- Reuters
Italy's Terna to invest 23 billion euros in network over 10 years
ROME, March 14 (Reuters) - Italian state-controlled power grid operator Terna ( opens new tab said on Friday it would invest more than 23 billion euros ($25 billion) on network upgrades over the next 10 years. The group, which pledged overall investments for 16.5 billion euros through 2028 in its strategy, announced it would raise by 10% year-on-year the funds aimed at the development of the national electric network for the 2025-2034 period. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. "Investing in planning, modernising and digitising electricity grids will be essential to cope with the growing demand for energy and the integration of renewable sources," Chief Executive Giuseppina Di Foggia said in a statement. She added that the group's goal was to "ensure that the country has a reliable, resilient and sustainable system". At the end of the year, Terna forecast that the capacity for energy exchange between markets would reach about 39 GW from the current 16 GW and that interventions would resolve local congestion and guarantee stability and security of the grid. The submarine high-voltage direct-current (HVDC) Tyrrhenian Link, connecting the island of Sicily to Sardinia and the southern region of Campania is expected to be completed by 2028, the group said. The Adriatic Link, the 250-kilomtre link between the regions of Abruzzo and Marche, is forecast to be operative in 2029. Terna said its investments would help support the Italian government's goals to increase national installed solar and wind capacity by 65 GW by 2030 and 94 GW by 2035. It added that interventions envisaged in its plan would lead to a total reduction of up to 2,000 kiloton/year of carbon dioxide emissions by 2030, rising to 12,100 kiloton/year by 2040.
