Other Activities


As a complement to the activities carried out under concession, Terna also develops non-traditional activities, i.e. activities that are not regulated or that are subject to regulation by the Electricity and Gas Authority (AEEG) that differ from activities carried out under concession.

In 2011, these activities regarded:

  • Continuing the photovoltaic project, with a second group of plants built by the subsidiary Nuova Rete Solare S.r.l., subsequently sold to the Terra Firma fund on October 24, 2011;
  • Starting investment projects in the field of energy storage systems;
  • Developing foreign activities in the Balkan areas and in the Mediterranean-North African area.


Terna’s second photovoltaic projectEU1

Terna’s activity in the photovoltaic field consisted in enhancing the territories adjacent to power stations by building small-sized photovoltaic production plants.

Since 2010, the year the first photovoltaic project began, Terna installed over 220 MWp of solar panels.

The first group of plants (approximately 145 MWp) was built between 2010 and the first months of 2011 and was sold by transferring Rete Rinnovabile S.r.l., finalized in March 2011. The second group of plants was built by Nuova Rete Solare S.r.l. – a company entirely owned by the subholding SunTergrid.

The sale agreement of Nuova Rete Solare S.r.l. to Terra Firma, the private equity fund that had had already bought from Terna Rete Rinnovabile S.r.l., was finalized in July 2011 with closing at the end of October.

At the closing, Nuova Rete Solare had a photovoltaic system with a total capacity of approximately 78.5 MWp built and connected, but not yet in production.

The agreed consideration (so called Enterprise Value) for the transaction was equal to 264 million euro. Selling the equity stake generated total gross proceeds for approximately 69 million euro, partly allocated for integrating the 2011 dividend.

On the basis of the agreement, Terna shall provide Nuova Rete Solare with maintenance, surveillance and monitoring services of the plants in compliance with contracts defined at the time of the multi-year sale transaction.

Once the system is fully operating, the photovoltaic production of this second part will allow saving approximately 74,000 tons of CO2 emissions a year which added to the emissions saving determined during the first part of the project, will lead to a total of CO2 emissions saved a year, equivalent to those produced by 78,000 vehicles.