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 FY2024, the company's capital expenditure stood at EUR2,624.4 million, which was 72.6% of the company’s total revenue and grew 15.9% YoY.

Terna focuses on the development of innovative solutions. The company identifies needs and trends and then develops ideas both in-house and externally. It has a strategic and cultural approach to Open Innovation, advancing the most promising solutions from the experimental level to real-world projects. The company's 2024-2028 Industrial Plan places a particular emphasis on digitalization, investing approximately EUR2 billion in innovation, technologies, and digital tools such as artificial intelligence and robotics. The company's innovation projects follow the 70/20/10 model, with 70% dedicated to core business, 20% to innovative solutions in adjacent areas, and 10% to disruptive innovation projects. The R&D units of Terna include the Innovation Factory Transmission Operator, which deals with grid transmission technologies about asset management processes, and the Innovation Factory System Operator, which deals with technologies for the management and development of the Electricity System. It also operates an Innovation Lab, which deals with the transversal innovation of the company, as well as the development of assets and projects involving disruptive solutions. In addition to this, the company also collaborates with universities, research centers, and large industrial businesses, and involves start-ups and small-medium enterprises in its innovation initiatives. As of December 2023, the company had two innovation factories and one innovation lab. It has obtained 22 patents; filed 39 patent applications; undertaken 40 tech scouting and landscaping initiatives; and has 69 projects in the innovation portfolio. In FY2023, the company spent EUR9.8 million on R&D, which as a percentage of revenue, stood at 0.3% and grew 32.4% YoY.