If there is a challenge that seems to be there for him at heart more of the other “is to increase the Triad as a team.” Not surprisingly, after the appointment, the new ceohe spent the first two months on the territory. “We have engineers very able, and workers can intervene on the network under voltage – explains in his first interview from the head company. I have seen them at work and to better express the concept of team. And, only if we are a cohesive team, with a sustainable and integrated approach, we are able to respond effectively to a changing world”.
Renewable energy will grow and close the power plants, which were not sufficiently compensated, however, by new capacity “green”. What risks are there?
The electricity demand covered by the sources, “green” is in constant increase, we travel on a yearly average of 34 per cent, with peaks in may, also 87 %. And the increase of the component renewable means an increase in the volatility of the resource that covers the question of why the climatic conditions involve greater volatility and be more stress for the network, which Terna operates. Not to mention that, due to the progressive shutdown of power plants, we have passed from an excess of capacity in a reserve margin that should be closing. And, therefore, the need of countermeasures.
One of the possible answers is the start of the market of ability, accompanied, however, by a planning stringent and it is here that comes in the Triad. The last of our planning ten-year had already provided for measures to cope with this situation, but I think there is space for actions more incisive, and further investments in the domestic market. We need to reinforce the mesh sizes of the network, but we must also promote forms of energy storage. All of this always looking to sustainability as a key element to combine investment and growth of the country.
Do you want to become the managers of the batteries for the future?
We do not have that ambition, but it is clear that batteries are needed. And we need to increase the interconnection capacity with foreign countries. Already today we are a hub of the energy of the Mediterranean: Italy can count on 25 power lines, four of which are towards the countries bordering on the Mediterranean. Then we have the interconnections with France and Montenegro, which will see the light at the end of 2019, as well as the project with Tunisia – for which he will be required to contribute to the Eu that could materialize at the beginning of 2018 – and further reinforcements are planned to Switzerland and Austria. All of this will carry forward an investment plan more robust.
How much more robust?
I think we can do more and we must do more to accompany this transition. Merely think of the climatic situations of the past few months especially in the south and in the centre-south, where we had, in the first part of the year, violent storms, even snow, is not provided. Therefore, we must anticipate certain actions as possible to prevent to the population the hardships caused by extreme weather conditions.
She has also promised a policy of dividend “more generous” on the top floor.
Methodologically it is located, a parameter able to involve our shareholders in the future growth of profits through dividends. Then the quantum, we have to define, with the current policy (average annual growth rate of 3% until 2021, ndr) that will represent a floor, and without losing sight of the financial sustainability.
We come to acquisitions. In Europe, in his words, the opportunities are limited. No occasion in sight?
There are areas where you could make sure of the rationalization of the portfolio of any regional operator. In this sense, I always look at the middle-Europe: if there were opportunities for disposals, the valuteremmo with caution, always considering a low risk profile and a limited use of capital.
In south America you have set foot in different countries. There are more possibilities?
Peru will launch an auction for a new line in the last quarter, and participate. In Chile, there is a pipeline of projects that could be evaluated with care. Uruguay wants to build other lines, we were the first to enter and we have a position of advantage. In Brazil, the theme of interconnectedness is the order of the day.
Considerable chances in Africa besides Tunisia?
If you normalize the situation in north Africa, the Triad may play a role in the creation of an energy market, starting from Libya. That is the most critical area, but also the more strategic because it is in front of us. And therefore must be watched with great attention.
There is space for other acquisitions as well as Europe and south America?
I would say yes and could be, for example, a service company of excellence in energy efficiency, which should be to enrich the technological expertise that we have developed.