Latest news with #Terna
Arabian Post
17-05-2025
- Business
- Arabian Post
Enel and Masdar Explore Joint Battery Storage Projects in Italy
Enel, Italy's largest utility, and Abu Dhabi-based renewable energy firm Masdar are in preliminary discussions to jointly develop battery storage capacity within Italy. The announcement was made by Enel CEO Flavio Cattaneo during a business conference in Milan. The companies, already partners in renewable energy ventures in Spain, are considering expanding their collaboration to include energy storage systems in Italy. Cattaneo highlighted a shared vision with Masdar to advance into new markets, specifically mentioning Italy's interest in battery and storage systems. This potential partnership aligns with Italy's broader strategy to enhance its renewable energy infrastructure. As the country increases its capacity for solar and wind energy, the need for efficient storage solutions becomes critical to ensure a stable power supply during periods when renewable sources are not generating electricity. Italy's transmission system operator, Terna, has projected a requirement for 71 gigawatt-hours of new grid-scale energy storage by 2030 to meet the European Union's decarbonization targets. This includes an estimated 8.875 gigawatts of power rating for the new storage capacity. To facilitate this, Terna plans to initiate an auction for energy storage capacity at the end of September. The collaboration between Enel and Masdar in Spain serves as a precedent for their potential projects in Italy. In Spain, Masdar acquired a 49.99% stake in 2GW of solar energy plants operated by Endesa, a subsidiary of Enel, with plans to add up to 0.5GW of battery energy storage systems. This €817 million investment marked one of Spain's significant renewable energy transactions, reinforcing Masdar's commitment to expanding its renewable energy footprint in Europe. Masdar's strategic investments are part of its broader goal to achieve 100GW of renewable energy capacity globally by 2030. The company has been actively expanding its presence in Europe, including a recent agreement to acquire a 49.99% stake in four Endesa solar assets in Spain, totaling 446 megawatts , for €184 million. These moves underscore Masdar's dedication to supporting Europe's transition to renewable energy. Italy's focus on developing battery storage systems is crucial for integrating the increasing share of renewable energy into the national grid. Currently, the country has a growing market for battery energy storage systems, with a significant portion consisting of residential-scale systems associated with small-scale solar plants. However, to meet future energy demands and ensure grid stability, there is a pressing need to develop large-scale, stand-alone utility storage facilities. ____________________________________
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
Reuters
12-05-2025
- Business
- Reuters
Terna and IPTO sign 2-billion euro deal on Italy-Greece power connection
ROME, May 12 (Reuters) - Italian power grid operator Terna ( opens new tab and its Greek counterpart IPTO ( opens new tab signed on Monday a deal worth nearly 2 billion euros ($2.2 billion) on a new undersea electricity interconnector between Italy and Greece. The deal was announced after Italian Prime Minister Giorgia Meloni hosted a summit with her Greek counterpart Kyriakos Mitsotakis at Rome's 17th-century Villa Doria Pamphili, also involving ministers from both countries. "(On interconnections) we have an advantage that comes from our geographical location in the Mediterranean, which has become central again in global dynamics, as the shortest route between the Atlantic and the Indo-Pacific," Meloni told reporters. The deal came after a huge blackout hitting Spain and Portugal last month raised questions over the resilience of the European power grid, prompting nations to seek to diversify routes and supplies. The new high-voltage link, named GRITA 2, will have a transmission capacity of up to 1,000 MW and span approximately 300 km in total, including around 240 km of subsea cable at depths of up to 1,000 metres, Terna said. "It will contribute to the achievement of decarbonization targets and strengthen the position of Italy and Greece as electricity hubs in the Mediterranean," the statement said, adding the two companies would invest 1.9 billion in the project. The new infrastructure - which on the Italian side will start from the south-eastern Puglia region - will operate alongside an existing interconnection which has been in place since 2002, with a 500 MW capacity. Greece's Mitsotakis also said a deal was struck between Italy's railway operator Ferrovie dello Stato (FS) and Athens' transport ministry for investments to improve railway safety in Greece, where a train crash killed 57 people in 2023. "In practice, it's about kickstarting a relationship... which was tested in the shadow of a big tragedy," the Greek leader said referring to that deal. Greece's Hellenic Train is a unit of Italy's FS. ($1 = 0.8990 euros)
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
17-04-2025
- Business
- Reuters
Italy picks former Terna CFO Scornajenchi to run gas grid group Snam
MILAN, April 17 (Reuters) - The Italian government has chosen a former top manager of power network company Terna ( opens new tab, Agostino Scornajenchi, to succeed Stefano Venier as CEO of gas grid group Snam ( opens new tab, state lender Cassa Depositi e Prestiti (CDP) said on Thursday. Prime Minister Giorgia Meloni's right-wing administration controls Snam through CDP. Venier was appointed when the previous government led by Prime Minister Mario Draghi was still in power. Scornajenchi, who served as Terna's chief financial officer for six years until November 2023, currently heads the venture capital division of CDP. Snam's shareholders are expected to approve CDP's proposal at a meeting on May 14. Under Venier, who served a three-year mandate, Snam helped reduce Italy's dependence on Russian gas by setting up two new liquefied natural gas (LNG) terminals and boosting supplies from North Africa and Azerbaijan. Venier also clinched a deal with Edison to buy three gas storage sites and started work to boost the network's transport capacity from southern to northern Italy to increase the flexibility of the national gas infrastructure. Snam is a partner of energy major Eni ( opens new tab in Italy's first carbon capture and storage project and has won the support of the European Commission for building a grid to transport green hydrogen to northern Europe. The group - which derives the bulk of its profit from regulated activities including gas, LNG transport and storage management - posted a 14% yearly increase of its adjusted core profit last year to 2.75 billion euros ($3 billion). ($1 = 0.8800 euros)
