#Greece #TERNA ENERGY #Masdar #Athens

Masdar's Acquisition of TERNA ENERGY and Its Impact on Renewable Energy

On November 28, 2024, Masdar, a prominent clean energy company based in the UAE, announced the completion of its acquisition of 70% of TERNA ENERGY, a leading renewable energy firm in Greece. This strategic acquisition not only makes Masdar the majority stakeholder in TERNA ENERGY but also signals ambitious growth plans for the renewable energy sector in Greece and beyond.

A Major Transaction in the Energy Sector

The deal, valued at 20 euros per share, positions the total enterprise value of TERNA ENERGY at approximately 3.2 billion euros, marking one of the largest transactions on the Athens Stock Exchange and in the European renewable sector. This acquisition is pivotal as it reinforces Masdar's commitment to expanding its renewable energy portfolio, with a target to reach 100 gigawatts (GW) of capacity globally by 2030.

Masdar's Chief Executive Officer, Mohamed Jameel Al Ramahi, expressed pride in becoming the majority shareholder of TERNA ENERGY. He emphasized that this acquisition would unlock significant opportunities, facilitating further growth as the company implements its plans to support the energy transition in Greece.

TERNA ENERGY: A Leader in Renewable Projects

For over 20 years, TERNA ENERGY has been a formidable player in Greece's renewable energy landscape, boasting a diverse portfolio that includes wind, solar, hydroelectric, and biomass projects. Currently operating an energy capacity of 1.2 GW, the company is steadfastly pursuing an ambitious goal of reaching 6 GW by 2029. Notable projects under its belt include the 680 MW Amfilochia pumped hydro project, which is recognized as one of the largest in Europe.

This acquisition is not merely about equity; it represents a collaborative vision for renewable energy that aligns with Masdar’s target of contributing to a sustainable energy future. Georgios Peristeris, the Executive Chairman of TERNA ENERGY, highlighted the synergy between the two companies, stating that the agreement represents a shared commitment to advancing clean, affordable energy solutions in Greece and southeastern Europe.

Future Collaborations in the Energy Transition

Following the completion of the acquisition, Masdar aims to secure regulatory approvals to initiate a mandatory tender offer (MTO) for the remaining shares of TERNA ENERGY. Such a move underscores Masdar's strategy to consolidate its control and further invest in enhancing market capabilities.

Masdar’s plans for TERNA ENERGY include leveraging its financial resources and market expertise to accelerate the growth of clean energy projects across the region. The alignment of Masdar’s long-term capital with TERNA ENERGY's operational insights sets a robust framework for achieving renewable energy targets at an unprecedented scale.

Experts anticipate that this strategic alliance can not only facilitate a transformation in Greece’s energy landscape but also amplify the prospects for renewable projects across Eastern Europe. As the demand for clean energy surges globally, such collaborations are imperative for driving innovation and meeting future energy needs.

Conclusion: A Step Towards a Sustainable Future

In conclusion, Masdar's acquisition of a majority stake in TERNA ENERGY serves as a significant milestone in the renewable energy journey of both companies. By pooling together their resources and expertise, they are better positioned to facilitate the transition to sustainable energy solutions. This alliance is expected to yield substantial benefits not only for Greece but also for advancing the broader European renewable energy capacity in line with global targets for net-zero emissions.

With a dynamic vision for growth and sustainability, the partnership between Masdar and TERNA ENERGY is set to redefine the energy production landscape in the area, setting an inspiring example for future investments in the clean energy sector.