Loans totalling €1.9 billion agreed with the European Investment Bank to finance investment in the Tyrrhenian Link:
• €900 million in two tranches agreed in March 2023;
• €500 million, on 7 February 2024, using up the overall facility.
These tranches are in addition to the loan agreed on 8 November 2022 (a first tranche of €500 million).

Bond issues under the €9 billion Euro Medium Term Notes (EMTN) programme, renewed in June 2023:
• €750 million, with a 6-year term in a single fixed rate tranche, launched in April;
• €650 million, a green bond issue with a 10-year term, in a single fixed rate tranche in euro, launched in July;
• €850 million, with a 7-year term, in a single fixed rate tranche in euro, launched on 10 January 2024. The market showed a strong appetite for the bonds, with the issue more than three times oversubscribed and attracting interest from high-quality investors from throughout the world.
An ESG-linked Revolving Credit Facility worth a total of €1.8 billion agreed in May to refinance the ESG Revolving Credit Facility of €1.5 billion obtained in April 2019.

Terna’s long-term rating is one notch above Italy’s sovereign rating.

Expansion of the NTG with addition of 307 km of circuits and 6 new substations and the purchases of 70 km of circuits and 2 substations in Alto Adige (as part of the acquisition of Edyna Trasmissione) and 1 substation in Sicily.

Consent obtained from the Ministry of the Environment and Energy Security and regional authorities for 23 national grid development projects, amounting to over €3 billion of investment, up 20% on 2022. These include the Tyrrhenian Link (the submarine connection between Sardinia, Sicily and Campania), SA.CO.I.3 (the submarine connection between Sardinia, Corsica and Tuscany) and the Adriatic Link (the submarine connection between the Marche and Abruzzo regions). Launch of the public consultation on the future interconnection between Italy and Greece, named GR.ITA 2.

Terna and WINDTRE launched the project that will involve building and operating a Mobile Virtual Network Platform: private network infrastructure that will allow Terna to improve operational efficiency, optimise communication processes and even more efficiently manage its infrastructure through the digitalisation of its assets.

A total of 698 people joined the Group in 2023, whilst 268 left, raising the level of education among the workforce: 96.2% of Terna’s employees had a university degree or high-school diploma.

Health and safety indicators for Terna’s workers have improved: with regard to injuries, both the injury rate (with 19 injuries, 4 fewer than in 2022) and the serious injury rate (with 0 serious injuries during the year) were down in 2023.

Signature, in February 2024, of the five-year collaboration agreement between Terna and RSE – Ricerca sul Sistema Energetico, a leader in analysis and applied research in the energy sector, with the aim of developing and applying processed and technologies in the field of energy and the environment.

The number of certified management systems has increased from 8 at the end of 2022 to 10 at the end of 2023. The number rose to eleven on 1 March 2024, with receipt of UNI PdR 125 certification of the Gender Equality Management System.

In 2023, Terna earmarked approximately €1.5 million for community initiatives.
99% of investment in electricity infrastructure involved engagement with the local communities directly affected.

In June, Giuseppina Di Foggia, CEO and General Manager of Terna, assumed the role of Vice President of GO15 (GO15.org), the worldwide association of Very Large Power Grid Operators.

Alongside recycling, over 95% of metal waste resulting from the retirement of obsolete electrical equipment is recovered, whilst the recovery rate for dielectric oils is 90% and for lead and nickel batteries 100%. In addition to limiting the leakage of SF₆ gas, SF₆ gas no longer capable of fulfilling its purpose is regenerated, eliminating disposal. In the three years between 2021 and 2023, this has avoided emissions amounting to 55,930 tonnes of CO₂ equivalent.