Clean energy company Masdar has successfully completed the acquisition of 70% of the shares of TERNA ENERGY, a company with extensive experience in renewable energy, with facilities in Greece and Southeastern Europe.
Masdar and TERNA ENERGY successfully close agreement
The deal was valued at €3.2 billion, making it the largest transaction in the history of the Athens Stock Exchange and one of the largest in the renewable energy sector in the European Union.
The acquisition of TERNA ENERGY reflects Masdar’s confidence in the growth of the renewable energy market in Greece and Eastern Europe. With an operational capacity of 1.2 GW in clean energy, it has one of the largest and most diversified portfolios of renewable projects in the region, including wind, solar , biomass and hydropower projects .
Masdar now aims to strengthen its ties with its allies and partners to achieve an installation capacity of 6 GW by 2029, with expansion strategies in the European market.
The acquisition of TERNA ENERGY further strengthens Masdar’s position in the renewable energy sector in Europe, especially in Greece, where TERNA ENERGY is the market leader. The company is currently building one of Europe’s largest pumped hydro projects, the 680 MW Amfilochia project, which will contribute to improving the region’s energy infrastructure.
Masdar CEO Mohamed Jameel Al Ramahi stressed: “We are proud to become the majority shareholder of TERNA ENERGY, bringing together two renewable energy champions. Our long-term vision and invested capital will unlock opportunities for further growth, not only in Greece, but across Europe. ”.
GEK TERNA CEO Georgios Peristeris also commented: “This agreement with Masdar reflects TERNA ENERGY’s leading role in the energy transition in Greece and Eastern Europe. We look forward to working together to harness the enormous growth potential of renewable energy in the region. ”.
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Source and photo: Masdar
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