Italian company Terna SpA, which is connecting that country with Montenegro by an undersea cable, set EUR 900 million for this year’s investments, planned to yield net income of more than EUR 1.5 billion, Dnevne novine newspaper reported. Presenting the strategy through 2019, the enterprise’s Steering Committee revealed a EUR 3.3 billion budget, according to the article, republished by portal CdM. The company is working on the undersea link with the Montenegrin Power Transmission System – CGES.
The report said EUR 10 billion has been invested into the domestic grid in the last ten years. The company announced it will promote the directive on the energy balance and environment protection, citing integration of renewable energy sources. The headline projects to be executed by 2019 are the connection between Italy and Montenegro and the construction of a link to France, but also the transmission line Sorgente-Rizziconi between Sicily and Calabria. The company is implementing the project of the Villanova-Gissi connection, planned for linking with the underwater line to Montenegro, according to the strategic plan. The overall endeavour is aimed at boosting the capacity in Abruzzo and overcoming the strain on the grid between the country’s central and southern regions.
Moody’s Investors Service affirmed the Baa1 issuer and senior unsecured debt ratings of Terna – Rete Elettrica Nazionale S.p.A and the (P)Baa1 EMTN programme rating and Terna’s short-term P-2/(P)P-2 ratings, all with a stable outlook. The agency cites the business plan and the EUR 300 million of EU funding and EUR 400 million investments for interconnecting with France in a project financed by third parties.