Masdar, UAE’s clean energy leader, has acquired 70 percent of TERNA ENERGY shares from GEK TERNA and other shareholders.
The deal values TERNA ENERGY at €3.2 billion, marking the largest energy transaction in the Athens Stock Exchange’s history and a significant milestone in the EU renewables industry.
Following this acquisition, Masdar plans to launch an all-cash mandatory tender offer to acquire the remaining shares, pending regulatory approval.
TERNA ENERGY operates 1.2 GW of renewable energy projects across wind, solar, biomass, and hydro technologies. TERNA ENERGY owns the 680 MW Amfilochia pumped hydro project, one of Europe’s largest.
TERNA ENERGY aims to expand capacity to 6 GW by 2029.
Masdar aims to achieve 100 GW of global renewable energy capacity by 2030.
TERNA ENERGY will serve as a core platform for Masdar’s European expansion in renewable energy.
Masdar CEO Mohamed Jameel Al Ramahi emphasized the strategic alignment with TERNA ENERGY and the ambition to support Europe’s energy transition.
TERNA ENERGY Chairman Georgios Peristeris highlighted the shared vision with Masdar for sustainable growth in clean energy across Greece and southeastern Europe.