Masdar Completes Acquisition of TERNA ENERGY, Plans Expansive Growth in Greece and Eastern Europe

Masdar Completes Acquisition of TERNA ENERGY

Abu Dhabi Future Energy Company, known as Masdar, has officially secured a major stake in the Greek renewable energy powerhouse, TERNA ENERGY. This transaction involved the acquisition of 70% of the outstanding shares of TERNA, marking Masdar as the majority shareholder. The deal, valued at 20 euros per share, brings TERNA ENERGY’s total valuation to an impressive 3.2 billion euros, making this acquisition one of the largest in the renewable energy sector within the European Union and the biggest ever on the Athens Stock Exchange.

This strategic acquisition aligns with Masdar’s broader vision to bolster its footprint in Europe. Following the successful transaction, Masdar will seek regulatory approval from the Hellenic Capital Markets Commission to launch a mandatory cash offer for the remaining shares of TERNA ENERGY. This move is not just a financial investment; it signals Masdar’s commitment to fostering cooperation and growth in the renewable energy sector, particularly with the ambitious target of achieving a 6 GW operational capacity in the next five years.

TERNA ENERGY has established itself as a significant player in the renewable energy landscape of Greece, boasting a diverse portfolio that includes projects in wind, solar, biomass, and hydroenergy. With a present capacity of 1.2 GW and ongoing development of Europe’s largest pumped-storage hydroelectric facility, the 680 MW Amfilochia project, this acquisition signifies a leap toward a cleaner energy future.

Mohamed Jameel Al Ramahi, CEO of Masdar, expressed pride in becoming the majority stakeholder of TERNA ENERGY, stating, “This partnership is built on shared visions of sustainability and its commitment to facilitating the energy transition in Greece and Europe.” He emphasized that Masdar’s long-term capital and innovative approach would provide the necessary support for TERNA ENERGY to flourish while contributing to Greece’s renewable energy goals.

The enhanced collaboration aims to increase the overall renewable energy capacity in Greece and Eastern Europe, as Masdar aims to reach a global target of 100 GW by 2030. The synergy between Masdar’s extensive resources and TERNA’s regional expertise could catalyze significant advancements in renewable technologies and infrastructure.

Georgios Peristeris, Chairman and CEO of GEK TERNA, acknowledged the unprecedented leadership that TERNA ENERGY is demonstrating in the transition to green energy. He noted that this collaboration would help open new growth avenues for TERNA as they align their efforts with Masdar towards a future of sustainable energy.

Masdar’s commitment to not just acquiring assets but investing in strong management teams sets this acquisition apart. The partnership strategy emphasizes establishing TERNA ENERGY as a central platform in the region, fostering innovative projects and driving forward the clean energy agenda.

As the renewable energy sector continues to evolve, Masdar’s strategic entrance into this partnership is poised to reshape the landscape of clean energy in both Greece and beyond. With a history of more than 15 years in the renewable sector and substantial global investments, Masdar aims to lead the charge toward a more sustainable future, furthering their mission to provide affordable clean energy solutions on a larger scale.

For further insights into Masdar and its initiatives, visit their official website or follow them on social media platforms to witness their transformative journey towards clean energy innovation.