Terna, Meridiam and Boundless Energy partner in Terna USA to implement transmission infrastructure projects.
Italian expertise
Terna USA will pursue business opportunities related to the acquisition of onshore and offshore transmission infrastructure. This partnership will benefit from the expertise of the Terna Group and Meridiam. Boundless Energy will provide the technical vision and combine its portfolio of already developed projects.
Regulations in the U.S. provide for a rebalancing between areas of high electricity demand and generation areas. Thus, on the technical level, underground or submarine cables are necessary. Developmentally, these projects involve several states or regions of the United States.
Terna, Italy’s national power grid operator, will contribute its expertise in underground and submarine cables. This expertise concerns, for example, the Tyrrhenian link, a submarine project linking Campania, Sicily and Sardinia.
A complementary partnership
Meridiam is an independent investment firm with over $18 billion in assets under management. The group is building the first submarine power link between the UK and Germany. This 725 kilometer long energy link provides electricity to 1.5 million homes.
Boundless Energy, is an American developer of transportation projects. The company seeks to optimize the capacity and reliability of the U.S. system. It has experience and a portfolio of projects in the United States.
Giacomo Donnini, head of major projects and international development for the Terna Group, says:
“By partnering with two leading and highly experienced industry players, Terna can pursue important business objectives with a low-capitalization strategy, contributing to the development of the U.S. electric system and increasingly integrating energy generated from renewables such as solar and wind power.”
Terna’s partner, Boundless Energy, is behind the project called Neptune. The project connects New Jersey and Long Island over 40 kilometers.
