Masdar Receives EU Approval for Acquisition of Greek Renewables Firm Terna

The European Commission (EC) has approved the acquisition of Greek renewable energy firm Terna Energy SA by UAE-based Masdar, with the deal valued at approximately EUR 3.2 billion (USD 3.5 billion), including debt.

The EU merger authority has stated that the transaction is unlikely to raise any competition concerns due to the modest market positions of both companies after the merger, as detailed in a press release.

Terna Energy focuses on various renewable sources, including wind, solar, hydroelectric, and pumped storage, operating projects throughout Greece and Europe. The firm aims to achieve an operational capacity of 6 GW by 2030.