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In the second half of 2018 Terna will be engaged in implementing the Strategic Plan for the period 2018-2022. In particular, the Company will continue to pursue its strategic objectives, stepping up the pace of investment, which will focus on development of the national transmission grid in order to facilitate the integration of renewable sources and improve the security of the system. At the same time, it intends to renew the Group’s asset base in order to mitigate the risk of interruptions to supply, boost environmental sustainability and make it easier to carry out maintenance activities through the use of digital grid technologies. Terna intends to increase investment in innovation and digital solutions in order to manage the growing complexity of the system. 
Regulated activities

Key electricity infrastructure under construction includes the interconnectors linking Italy with France and Montenegro, which are expected to be completed by the end of 2019. This infrastructure will boost cross-border interconnection capacity and help to drive the progressive integration of Europe’s electricity systems. With regard to the main projects designed to boost quality of service, during the second half, work will continue on installing the submarine connections linking Capri with Sorrento and in the Venetian lagoon. In addition, the new 380 kV power line linking Foggia and Benevento will also enter service in its final form. This project is included in the works designed to facilitate the connection of renewable energy sources located primarily in southern Italy, accompanied by a rationalisation of the existing grid. In addition, in order to meet the objectives set out in the Strategic Plan and in line with the provisions of ARERA Resolution 129/2018 on outputbased incentives, preparations are being made in order to access the measures introduced by the resolution.


Non-regulated activities

The strategy aims to leverage the Group’s distinctive competencies to increasingly position it as an Energy Solutions Provider. This will entail boosting our position in the energy efficiency market and embarking on a role as a high value added systems integrator, supporting the development of new technologies and fulfilment of our role as a TSO in the current energy transition. With regard to Avvenia, the process of integrating the company with the Group will continue with the aim of achieving commercial and industrial synergies as early as the second half. With regard to Sustainability, the activities covered by the memorandum of Understanding signed by ANBI (the National Association of Consortia engaged in the Protection of Italy’s Landscape and Irrigation Water), Coldiretti and Terna will continue in the second half of the year. The agreement aims to develop a joint action plan designed to ensure the optimal management of irrigation resources, energy efficiency and nature conservancy. In addition, we expect to complete the Giannutri project, the first smart infrastructure to be installed as part of the energy transition for small islands no connected to the national grid. The telecommunications business will focus on providing high value added services, exploiting the opportunities offered by development of the Group’s infrastructure.

 

International activities

Work on construction of the lines and substations relating to the two Brazilian concessions, Santa Maria Transmissora de Energia (SMTE) and Santa Lucia Transmissora de Energia (SLTE), is expected to be completed by the end of 2018. In addition, work on existing projects in Uruguay and Peru will continue in the second half of the year. The process of scouting for further opportunities in overseas markets will continue. This may take the form of partnerships and will involve the careful selection of projects with a view to ensuring a low risk profile and avoiding the need to tie up large amounts of capital.