Terna S.p.A., Terna Plus S.r.l. and Terna Chile S.p.A. (collectively “Terna Group”) signed an agreement with CDPQ, a global investment group, for the sale of 100% of Terna Group’s portfolio of power transmission assets in Brazil, Peru, and Uruguay, for an equity value of over 265 million euros. Terna’s recently constructed, state-of-the-art transmission network in Latin America extends approximately 1,200 kilometres in three countries, Brazil, Peru, and Uruguay. Thanks to significant investments in the region over the past five years and leveraging of its core expertise, Terna Group has contributed to the sustainable development of resilient and fully digitalized infrastructure, with the involvement of local communities. The transaction will allow Terna to record a capital gain of over 60 million euros.
The Terna Group is one of the leading European and global electricity transmission operators. It operates the high-voltage national transmission grid with about 75,000 km of lines, around 900 electrical substations throughout the Italian territory and 26 interconnections with foreign Countries. Its mission is to guarantee 24 hours a day, 365 days a year, the secure operation, quality, and efficiency of the Italian electricity system and ensure equal access conditions for all market operators. A centre of excellence made up of over 5,100 professionals, Terna plays a guiding role in the energy transition process towards complete decarbonization and full integration of energy from renewable sources into the grid. At Caisse de dépôt et placement du Québec (CDPQ), we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public retirement and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate, and private debt. As at December 31, 2021, CDPQ’s net assets totaled CAD 419.8 billion.