December 11, 2015

FS sells electricity network to Terna for €757m

Written by  Marco Chiandoni
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ITALIAN State Railways (FS) concluded the privatisation of its power supply network on December 10 when it signed a contract transferring ownership to Terna, an Italian public company owned by Cassa Depositi e Prestiti which manages the national electricity grid.

The sale is part of a strategic review of national assets, and concludes protracted negotiations with Terna, which began under the then FS CEO Mr Mauro Moretti in 2011.

The €757m deal covers the entire 8400km high and very high-voltage network previously managed by Italian Railway Network (RFI).

Part of the revenue generated from the sale will be used to fund infrastructure enhancements.

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