Italy's Terna pledges to spend record 8.9 bln euros on power grid by 2025

Terna Energy SA

19/11/2020 09:33

MILAN, Nov 19 (Reuters) - Italy's Terna  TRN.MI  has
promised to spend a record 8.9 billion euros ($10.53 billion) on
its high voltage power grid to 2025 to upgrade connections and
meet the demands of a growing shift towards green energy.
    In its new 2021-2025 business plan, Terna said it expected
its core earnings to rise to 2.21 billion euros in 2025 from an
expected 1.84 billion euros next year, while net profit at the
end of the plan is seen at 1 billion euros.
    Dividend per share will grow an average of 8% a year between
2021 and 2023, it said.
($1 = 0.8452 euros)

 (Reporting by Stephen Jewkes; editing by Agnieszka Flak)
 ((stephen.jewkes@thomsonreuters.com; +39.0266129695; Reuters
Messaging: stephen.jewkes.thomsonreuters.com@reuters.net))