Terna SpA (TRN.MI), Italy's biggest power grid company in terms of transmission lines, said Wednesday it is planning to invest EUR1 billion to revamp its high-voltage electricity network in Italy.
In a press release, the company said its project will entail tearing down 1,200 kilometers of obsolete power lines, while installing 450 kilometers of new high-tech power lines.
The project will involve 11 Italian regions: Lombardy, Piedmont, Veneto, Umbria, Abruzzo, Tuscany, Lazio, Campania, Basilicata, Calabria and Sicily.
Finally, the plan will improve the efficiency of the grid as it will reduce grid losses of nearly 300 million kilowatt-hour, which is equal to the annual consumption of 100,000 families, the company said.