Intesa Sanpaolo in the financing to Terna for the Adriatic Link

The IMI Corporate & Investment Banking Division of Intesa Sanpaolo participated in a EUR 1.5Bn financing to Terna, aimed at developing Adriatic Link, the submarine power line that will connect Marche and Abruzzo regions.

Part of Italy’s Integrated National Energy and Climate Plan, this strategic infrastructure project aims to strengthen energy transmission in central Italy, addressing national electricity grid needs for security flexibility, and the development and integration of renewable energy.

The project involves the construction of a high-voltage direct current (HVDC) line, stretching 251 km, of which 210 km will be submarine cable, reaching a maximum depth of approximately 100 meters and delivering a transmission capacity of 1,000 MW.

The financing structure is divided into three tranches, all guaranteed by SACE’s Archimede Guarantee for over EUR 1Bn:

• EUR 750M loan from the European Investment Bank (EIB), with a 22-year term
• EUR 500M credit line from Intesa Sanpaolo, with a 7-year term
• EUR 250M additional loan from Intesa Sanpaolo, with EIB funding and a 7-year term, supporting the project itself

This transaction reinforces Intesa Sanpaolo’s role in supporting energy transition and the development of strategic infrastructure for the country.