Power grids evolve amid $26 B green surge
Italy’s Terna will $26 B to modernize power infrastructure as global renewable energy demand surges and electricity use hits record highs in 2024.
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Italy: Power companies across the globe are racing to upgrade outdated infrastructure as renewable energy adoption accelerates. One of the most ambitious efforts is underway in Italy, where grid operator Terna has pledged $26 B (€23 B) over the next decade to modernize and expand the country’s electricity network.
“Modernizing, digitizing, and planning our energy grids is vital to meet rising electricity demand and integrate renewables efficiently,” said Terna CEO Giuseppina Di Foggia. The upgrades aim to strengthen Italy’s energy reliability and sustainability as the country transitions away from fossil fuels.
Currently, around 80 % of global electricity still comes from fossil fuels like coal and oil, but renewables are quickly gaining ground. According to Ember analyst Euan Graham, renewable sources powered a record 32 % of the world’s electricity in 2024, fueled by the growing use of wind, hydro, and solar.
Global electricity demand surged 4% this year, driven by expanding data centers and rising cooling needs amid higher temperatures. In response, Terna’s planned improvements will boost cross-border energy capacity from 16 GW to 39 GW, easing bottlenecks and reinforcing grid stability.
Similar modernization efforts are happening in the U.S. and Puerto Rico, where governments are pivoting toward cleaner, distributed energy sources to meet climate goals and improve energy resilience.
Source: Yahoo News
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