Ferrovie dello Stato Italiane is a state controlled company that manages infrastructure and services on the Italian rail network.
Under the terms of the deal, Terna will acquire 100% stake in Società Elettrica Ferroviaria (SELF), which operates in the electricity transmission sector. The assets considered for sale include 7,510km high-voltage and very-high-voltage power lines and 350 electrical substations.
Upon completion of the deal, the assets will be part of the National Transmission Grid (NTG).
The deal also involves 869km of high-voltage and very-high-voltage power lines which are already a part of the NTG.
State-controlled Terna will also acquire the contract for the housing of fibre-optic cables, as part of the deal.
Terna CEO Matteo Del Fante said: "It’s an important achievement for us and for the country, since this acquisition will create a transmission grid capable of avoiding duplications and thus ensuring greater safety, efficiency and savings.
"Moreover, in an international context, Terna will now be able to further consolidate its role in the integration process of grids, both in Europe and in the Mediterranean."
The transaction, however, excludes the transfer of staff and financial liabilities.
The company expects the integration of the SELF infrastructure to increase its 63,900km of lines, by approximately 13%.
The Italian Government is considering selling a part of the railway system as early as next year in a bid to reduce debt, reported Reuters.
Image: Italy’s power grid operator Terna currently manages 63,900km of lines. Photo: courtesy of a454/ FreeDigitalPhotos.net.
