Masdar Completes TERNA ENERGY Acquisition, Targets 6GW

Masdar, the United Arab Emirates' premier clean energy powerhouse, has completed its 100% takeover of TERNA ENERGY, Greece's largest renewable energy company. The takeover, which also resulted in TERNA ENERGY being delisted from the Athens Stock Exchange, is a major step in Masdar's move to further develop its renewable energy presence in Southeastern and Central Europe. The deal is more than a matter of money; it is an alignment of agendas, resources, and climate targets as Masdar looks to pursue a rapid step-up in deployment of clean energy in strategic regions and become the world's major renewable energy leader.

The deal is part of Masdar's larger strategy to achieve 100 gigawatts (GW) of worldwide clean energy capacity by 2030. With TERNA ENERGY now within its fold, Masdar is set to ramp up the company's operational capacity to 6GW by the end of the decade. This expansion path will be supported by Masdar's extensive financial capabilities, global project development skills, and focus on sustainable energy transition.

UAE Minister of Industry and Advanced Technology and Masdar Chairman Dr. Sultan Al Jaber highlighted the significance of this acquisition in solidifying Masdar's strategic footing in Europe. "Bringing TERNA ENERGY into the Masdar family reinforces our presence in Greece and the broader region, allowing us to accelerate the development of renewable energy solutions and unlock the investment required to empower nations to reach their clean energy ambitions," he added. His remarks underscore the importance of this merger within the framework of regional and global energy objectives, especially as nations throughout Europe move toward achieving the EU's 2050 net-zero targets.

Following the acquisition, a senior leadership team led by Dr. Al Jaber and Masdar CEO Mohamed Jameel Al Ramahi visited TERNA ENERGY’s headquarters in Athens. They held high-level strategic meetings with TERNA ENERGY Executive Chairman Georgios Peristeris. These discussions focused on aligning both organizations’ growth strategies and exploring synergies that can be leveraged to speed up renewable energy project deployment across the region.

Al Ramahi, who was positive about the future, added that delisting TERNA ENERGY from the Athens Stock Exchange would enable more flexibility and operational effectiveness. "With TERNA ENERGY delisted, we can maximize and take advantage of the combined knowledge and experience of both teams to speed up the development of clean energy projects in Greece and in the region," he said. He also emphasized that TERNA ENERGY would be Masdar's European flagship platform, driving not only the company's internal clean energy ambitions but also making a major contribution to national and EU-wide climate action initiatives.

TERNA ENERGY is presently making strong inroads on several priority projects, among them the Amphilochia pumped storage hydropower power plant, which is one of the largest of its type in Europe. This project is significant as it is Masdar's first significant hydropower investment in the region, marking a diversification of its renewable energy portfolio. Additionally, final investment decisions have been taken on 250MW of new solar, wind, and battery storage schemes, all of which are scheduled to come on stream over the next two years.

Through this acquisition, Masdar gains not only exposure to one of Greece's most vibrant renewable energy businesses but also enhances its potential to catalyze Europe's large-scale energy transition. TERNA ENERGY's portfolio and pipeline of opportunities will be a major contributor to helping Greece achieve National Energy and Climate Plan objectives and contribute to overall EU ambitions.

Ultimately, this deal is more than simply a strategic business proposition; it is a reflection of increasing global cooperation in combating climate change. Masdar's multi-decade investment in TERNA ENERGY speaks to a dedication to creating a cleaner, greener future where energy security and environmental stewardship walk together. The future roadmap is ambitious, but with the combined might of two of the biggest clean energy players, the route to 6GW of renewables by 2030 seems realistic and firmly in sight.