Financial directors talk on energy transition

The energy transition under way is closely linked to technological evolution and Terna has a leading role, investing daily in electricity grid development to foster this change process. The group’s CFO, Agostino Scornajenchi, spoke about it at the Andaf congress (Associazione nazionale direttori amministrativi e finanziari - the Italian National Association of Administrative and Financial Directors), where the directors of major companies met in Milan to discuss the role of "businesses and people and the future".

"The digital transformation," emphasised Scornajenchi, "is closely linked to technological evolution: renewables, energy efficiency and electrical mobility, as well as grid and storage digitalisation. These are the most important elements of the new paradigm". Terna invests in electricity grid development to support the energy sector’s current transition with technologically innovative solutions. "€ 600 million has been earmarked for innovation and digitalisation over the next 5 years. Centralised data management," observed the CFO, "will allow us to perform preventive maintenance on infrastructure assets, reducing costs and increasing grid reliability".

Scornajenchi then explained exactly what the company is developing: a new digital infrastructure, "as a facilitating factor for system management evolution"; solutions "for the grid", in the form of fully digitalised substations (with over 200 already fully digitalised), robotised grid inspections (for example, using drones, which is already under way as a pilot project) and "buried" cable monitoring tools; solutions "for the electricity system" to develop provisional capacity and optimise system management.

"Digital transformation will also affect our personnel and will require a change in mentality and a new organisational culture aimed at strengthening technology skills, also through global partnerships with academic institutions," highlighted Scornajenchi. To accomplish this, Terna has joined the Bits & Watts research programme at Stanford University’s Precourt Institute of Energy—one of 30 engineering research centres in the world and a reference point for confronting global energy challenges—to develop energy transition solutions that work towards an "affordable, low-carbon energy system".

Additionally, Terna has launched a training programme with Università Luiss Guido Carli in Rome to unite the business and academic communities and promote the development of the professional skills most suited to today’s job market and which contribute to Italy’s growth. "We believe that investing in training and integrating young people into the workforce," added the CFO, "represent a fundamental step in creating value for Italy’s entire system, and the training programmes to be launched will not only support business development and spread a culture of innovation but will also contribute to creating future professional excellence in the energy sector".