TERNA S.P.A. The Memorandum of Understanding was signed today in Rome by Enel CEO Francesco
Starace and Terna CEO Matteo Del Fante
The agreement has a term of three years and will allow the two companies to cooperate on the development outside of Italy of integrated electricity transmission initiatives, with the construction of new plants or the acquisition of existing assets
Rome, May 11th, 2015 - The Chief Executive Officer of Enel Francesco Starace and Matteo Del Fante, the Chief Executive Officer of Terna, today signed a Memorandum of Understanding ("MoU") for cooperation in identifying, assessing and developing integrated initiatives and opportunities in greenfield (for the creation of new assets) and/or brownfield (for the acquisition of existing assets) projects related to transmission systems in the countries - with the exception of Italy - where Enel and Terna have a strategic or commercial interest.
"Demographic growth, the business cycle and the need for infrastructure move in step together", said Enel CEO Francesco Starace, "Enel is ready to support the growth of the countries in which it has a strategic or commercial interest, including in the field of energy infrastructure. In this context the collaboration agreement with Terna is key for the development of additional power grids and interconnections in countries outside of Italy with a shortage of infrastructure, especially in developing countries."
"The Memorandum signed today with Enel will serve as the foundation for the analysis of specific projects in a number of areas around the world," said Terna CEO Matteo Del Fante. "Terna continues to operate abroad by focusing its attention on its core business of power transmission. Working with partners like Enel, which has a major international presence, we can develop our transmission operations, contributing to the design and possibly the construction of plants".
Away from Italy, Enel is interested, including through Group companies, in the acquisition, development and operation of projects regarding high-voltage transmission or connection grids in the countries it operates in, including those integrated with power generation or distribution operations, through both the construction of new assets and the acquisition of existing assets.
Terna is interested in providing, also through its group companies, technical cooperation in the analysis of the electricity system, grid planning and the design, operation and maintenance of transmission assets in countries of strategic or commercial interest outside of Italy, as well as evaluating the acquisition or development of transmission assets as part of integrated initiatives.
According to the MoU, in the event that one of the parties identifies an opportunity that it deems could be of mutual interest, or even of exclusive interest to the other party, they could offer that party information on the opportunity as a priority. These opportunities will be assessed by the two companies on the basis of their common interests. The agreement will last for three years.
Regarding the individual opportunities that should be subject to evaluation, information on related party operations will be made available when required.
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Enel SpA - Registered Office: 00198 Rome - Italy - Viale ReginaMargherita 137 - Companies Register of Rome and Tax I.D.
00811720580 - R.E.A.
756032 - VAT Code 00934061003 - Stock Capital Euro
9,403,357,795 fully paid-in
Terna Spa Registered Office - Viale Egidio Galbani 70 - 00156Rome - Italy - Ph. +39 06.83138111 - www.terna.it
Rome Register of Companies, Tax Code and VAT No.05779661007 R.E.A. 922416
Share Capital Euro 442,198,240 fully paid-in
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