Italian energy giant keen on RP, SE Asia
Nov 19, 2007 - The Philippine Star
ROME, Italy — Terna-Rete Electtrica Nazionale S.P.A of Italy is keen on investing in the Philippines and other Southeast Asian countries.
Based on a company paper presented at the 20th World Energy Council (WEC) Congress here, Terna, the owner and operator of the Italian electricity grid, said part of its strategic plan for 2006-2010 is to expand its presence in other parts of the world, particularly in Asia.
Terna’s 2007-2011 business plan foresees total investments of 2.7 billion euro, an increase of 35 percent from 2006 plan. Of this, 80 percent would be devoted to the Italy’s national grid’s development or equivalent to 2.1 billion euro.
The firm’s Italian electricity transmission grid is interconnected with other countries through 18 lines, 16 of which run along the Alps (four in France, nine in Switzerland, one in Austria and two in Slovenia), one submarine line in Greece and one submarine power line with Corsica.
Terna is one of four groups that have been pre-qualified by the Power Sector Assets and Liabilities Management Corp. (PSALM), to bid for the 25-year concession to operate the National Transmission Corp. (TransCo).
The four qualified bidders will participate in the final stage of the TransCo bidding process, which is the submission of the technical proposal and financial bid scheduled on Dec. 12.
Terna is joined by Two Rivers Pacific Holdings Corp. of Metro Pacific Corp.’s Manuel Pangilinan.
It will be recalled that Terna,with its partner then being the Citadel group, was the only group that submitted a bid during the Feb. 6, 2007 auction of the concession contract of TransCo. Having only one bidder, the exercise failed.
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