Italian power grid operator Terna has hired Spanish bank Santander to seek investors that could bring cash into its transmission businesses in Brazil, Peru and Uruguay, four sources familiar with the matter said.
Terna could raise $227 M to $334 M from the process that could help Terna strengthen its footprint in Latin America, two of the sources said.
One of the sources described South America as a "good platform to boost growth".
The Rome-based company has been given concessions to develop power transmission lines in Brazil, Uruguay and Peru where it has pledged to invest around $278 M to 2022.
It recently unveiled a new 158 km power line in Brazil to carry power produced from wind farms in the south of the country into the national grid.
In its 2018-2022 business plan unveiled last year, Terna said it expected to generate an estimated $170 M in core earnings from international operations, primarily in Latin America.
Source: Euro News