265 Euro to US: Terna Sells Latin American Power Transmission Assets

Terna Group divests its power transmission assets in Brazil, Peru, and Uruguay to CDPQ for over 265 million euros, marking a strategic shift in international operations. This equates to roughly $280 million US dollars, showcasing a significant investment in Latin American infrastructure.

Terna Exits Latin American Market with 265 Million Euro Deal

Terna Group, comprising Terna S.p.A., Terna Plus S.r.l., and Terna Chile S.p.A., recently finalized an agreement to sell its power transmission portfolio in Latin America to CDPQ, a global investment group. The deal, valued at over 265 million euros (approximately $280 million USD based on current exchange rates), includes approximately 1,200 kilometers of state-of-the-art transmission lines across Brazil, Peru, and Uruguay. This substantial transaction allows Terna to realize a capital gain exceeding 60 million euros. The sale represents a significant shift for Terna, enabling the company to redirect its focus towards other markets.

Terna’s Strategic Refocus and CDPQ’s Latin American Expansion


Terna’s decision to divest its Latin American holdings aligns with its updated 2021-2025 Industrial Plan. According to Giacomo Donnini, Head of Terna International Operations, this strategic move allows Terna to concentrate on low-risk markets with promising growth potential. The transaction provides Terna with significant capital to reinvest in these targeted areas. For CDPQ, the acquisition represents a strategic entry point into the Latin American energy transmission market.


CDPQ plans to leverage the existing strong management team and pursue further growth opportunities in the region. This aligns with CDPQ’s climate strategy and its ambitious goal of reducing the carbon intensity of its portfolio by 60% by 2030. Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ, emphasized the importance of this investment in establishing a new platform for power transmission in Latin America. The acquisition positions CDPQ as a key player in this vital sector, facilitating the expansion of networks connecting renewable energy projects to consumers throughout the region.

Transaction Details and Future Outlook

The transaction is expected to close in several stages, primarily during the latter half of 2022, contingent upon the fulfillment of standard closing conditions. Terna Group received financial advisory services from Santander Corporate & Investment Banking and legal counsel from Curtis, Mallet-Prevost, Colt & Mosle. CDPQ was advised by Pinheiro Neto Advogados. This transaction underscores the growing importance of sustainable energy infrastructure in Latin America and the significant investments being made to support its development. By transitioning ownership to CDPQ, a company committed to renewable energy, the transmission assets are poised to contribute to a greener energy future in the region.

Conclusion: A Strategic Shift in the Latin American Energy Landscape

The sale of Terna’s Latin American power transmission assets for over 265 million euros signifies a pivotal moment for both Terna and CDPQ. While Terna strategically refocuses its international efforts, CDPQ gains a strong foothold in the Latin American energy market, furthering its commitment to sustainable infrastructure development. This transaction marks a significant step towards a more interconnected and sustainable energy future in the region.