Masdar Completes Acquisition Of TERNA ENERGY

Abu Dhabi, November 29: Masdar, the Abu Dhabi Future Energy Company, has officially closed the acquisition of 70% of TERNA ENERGY, a leading renewable energy firm, from GEK TERNA SA and other shareholders. The deal, valued at €3.2 billion, is considered the largest energy transaction in the history of the Athens Stock Exchange and one of the biggest in Europe’s renewable energy sector.

A Major Move in the Renewable Energy Sector

The acquisition, priced at €20 per share, reflects Masdar’s commitment to expanding its clean energy portfolio across Europe. TERNA ENERGY, which operates 1.2 gigawatts (GW) of renewable energy capacity, has projects spanning wind, solar, biomass, and hydropower technologies. The company is also involved in building one of Europe’s largest pumped hydro projects, the 680 MW Amfilochia project in Greece.

With TERNA ENERGY’s growth potential, Masdar is aiming for a global capacity target of 100GW by 2030, and TERNA’s 6GW target by 2029 will significantly contribute to this ambitious goal.

Strengthening Europe’s Energy Transition

Mohamed Jameel Al Ramahi, CEO of Masdar, expressed pride in becoming the majority shareholder of TERNA ENERGY, calling the partnership a vital step in advancing Europe’s clean energy transition. “This acquisition will unlock growth opportunities for TERNA ENERGY as it supports Greece’s renewable energy goals,” he said.

The partnership is also expected to support the growing green energy sector in southeastern Europe, with TERNA ENERGY playing a key role in driving forward clean, affordable energy production across the region.

Supporting the Energy Transition in Greece

Georgios Peristeris, Chairman and CEO of GEK TERNA and Executive Chairman of TERNA ENERGY, emphasized the role of the deal in TERNA’s leadership in Greece’s green energy transition. He added that the partnership with Masdar would offer boundless growth possibilities for the company in the coming years.

Masdar’s acquisition is part of a broader strategy of investing in exceptional clean energy teams and platforms to help meet its long-term goals. The Rothschild & Co. and Simmons & Simmons were among the advisors involved in the transaction, with GEK TERNA receiving support from Reed Smith LLP and Potamitis Vekris.

This acquisition highlights Masdar’s increasing influence in the global renewable energy sector and further solidifies its role in Europe’s energy transition.