Terna SpA (Terna) is an independent grid operator for energy transmission and is primarily engaged in the operation and maintenance of high-voltage and very high-voltage electrical networks. It carries out electricity management, development, transmission, and dispatching activities on the high-voltage grid across the country. The company generates electricity from wind, photovoltaic, biomass, geothermal, hydroelectric, and thermoelectric sources. The company classifies its operations into three reportable segments: Regulated, Non-Regulated, and International. In FY2025, the company's capital expenditure stood at EUR3,346 million, which was 84.7% of the company’s total revenue and grew 27.5% YoY.

Terna R&D initiatives focus on the twin transition of energy and digitalisation, with significant investments in innovation and digitalisation to enhance infrastructure maintenance, grid resilience, and energy demand forecasting. The company employs artificial intelligence for dispatching, asset monitoring, and inspections, reducing data processing time. Terna also invests in security measures for the National Electricity System and collaborates with national and international ecosystems through the TSO Innovation Alliance and Terna Innovation Zones. The company promotes innovation through technology development, monitoring innovation ecosystems, and investing in start-ups. The company's Innovation Structure is responsible for monitoring and governing innovative projects within the company. It manages the Stage and Gate process, which involves analyzing solutions development and assessing resource requirements, development opportunities, and future financing. Terna has established three new innovation hubs, known as Terna Innovation Zones, in Tunis, the Adriatic Region, and Turin. The company has a portfolio of 85 intellectual property titles, including patents, design models, and copyrights. Terna is part of the TSO Innovation Alliance, a collaboration among eight European operators to accelerate innovation for the energy transition. In FY2025, the company spent EUR9.5 million on R&D, which as a percentage of revenue, stood at 0.2% and grew 6.7% YoY.