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Posted by
Two Blokes May 18, 2025 -
Filed in
Stock
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Terna S.p.A. has recently outperformed the S&P 500, driven by investor preference for defensive assets, favorable currency movements, and solid operational execution. Terna is accelerating its capital expenditure, notably on the €23 billion 2024–2028 industrial plan, which includes strategic infrastructure projects like the Tyrrhenian Link to support Italy's renewable energy transition. Despite significant investment activity, Terna maintains a strong balance sheet, improved credit ratings (recently upgraded by S&P), and favorable financing terms, such as issuing green bonds at attractive rates.
