Masdar Acquires Full Ownership of TERNA ENERGY

image from Masdar

Masdar, the UAE’s clean energy leader, has acquired 100% of Greece’s TERNA ENERGY SA, completing a mandatory tender offer (MTO) and squeeze-out process for the remaining 30% shares at 20 euros per share. Masdar initially purchased 70% of TERNA ENERGY in November last year, in a deal valued at 3.2 billion euros, marking the largest energy transaction on the Athens Stock Exchange at the time.

TERNA ENERGY, a key player in Southeastern and Central Europe’s renewable energy sector for over 25 years, operates a diversified portfolio of projects across wind, solar, biomass, and hydro technologies. It is currently developing one of Europe’s largest pumped hydro projects, the 680MW Amfilochia project, and continues to expand with 197 MW of photovoltaic (PV) projects under construction in Greece and Bulgaria.

With full ownership, Masdar plans to integrate TERNA ENERGY into its global operations, accelerating the company’s renewable energy initiatives in Greece and Europe. This acquisition strengthens Masdar’s position as a global energy transition partner and supports the EU’s net-zero goals for 2050.

The acquisition also aligns with Greece’s National Energy and Climate Plan (NECP) and is expected to drive significant capital investment in the region. Masdar aims to grow its global clean energy portfolio to 100GW by 2030. Following the acquisition, TERNA ENERGY will be delisted from the Athens Stock Exchange, pending regulatory approval.

Masdar CEO Mohamed Jameel Al Ramahi emphasized the role of the acquisition in advancing their renewable energy vision across Europe, while TERNA ENERGY’s Chairman Georgios Peristeris highlighted the growth potential of the company within Masdar’s global network.