EIB makes contribution to Italy-France interconnector

The European Investment Bank has signed a deal with Terna to provide a EURà‚ 130m loan for an electric power interconnection between France and Italy.

The loan is in support of investments for the public component of the “Piedmont-Savoy” project, the new 320à‚ kV direct current electricity interconnector that will link both countries. The loan has a term of 22à‚ years and a fixed interest rate of 1.64 per cent.
The high-voltage power interconnector between Piossasco (Italy) and Grande-àƒÅ½le (France) known as “Piedmont-Savoy” provides for an overall cross-border exchange capacity (combining public and private components) of 1à‚ 200 MW.

With a length of 190 km, equally distributed between Italy and France, this will be the world’s longest direct current cable power line, fully integrated within the transmission infrastructure system and therefore ‘invisible’.

“This operation confirms the EU bank’s engagement in the vital sector of energy networks and further consolidates its fruitful partnership with Terna: in recent years we supported with EUR 1 billion financings in total the Italian network operator’s key investment plans to upgrade and develop the electricity transmission network“, said EIB Vice-President Dario Scannapieco.

When the work has been completed, “Piedmont-Savoy” will be the fourth interconnector between Italy and France, serving to increase the exchange capacity between the two countries by some 40 per cent and bolstering the integration and competitiveness of the electricity market, in line with EU strategy.

The power line is expected to be operational by the end of 2019

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