The EIB on 21 July signed an agreement with Italian energy company group Terna, which will unlock €130 million in funds for a project that will link the French and Italian energy grids.
Terna’s “Piedmont-Savoy” 190km interconnector will link northwest Italy with southeast France, between Piossasco and Grande-Île.
Slated for completion by the end of 2019, the link will be the fourth of its kind between the two countries and will increase exchange capacity by 1,200 MW, roughly the capacity of one nuclear reactor. The Piedmont-Savoy interconnector will also be the world’s longest direct current cable line.
Terna is working on the underground cable project with its French counterpart, RTE. Total costs are estimated to reach a billion euros.