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EIB provides last tranche of a €1.9bn financing for the 1 GW Tyrrhenian Link (Italy)

The European Investment Bank (EIB) and the Italian power transmission system operator (TSO) Terna have signed a contract for the final tranche for the €1.9bn financing of the Tyrrhenian Link power transmission project in Italy. The €500m finance contract signed adds to the €1.4bn previously disbursed via loans signed in November 2022 and March 2023. The 1 GW Tyrrhenian Link, consisting in a high-voltage direct current (HVDC) double submarine cable, will connect Sicily and Sardinia with the Italian mainland. 

The project, which will require a total investment of €3.7bn, comprises the construction of two transmission lines of 480 km each. The eastern section of the route will link Sicily and Campania on Italy’s mainland and the western section will run from Sicily to Sardinia. Terna has already been awarded permission to build the eastern route. The Tyrrhenian Link is set to be completed in 2028.