Masdar acquires greek renewable energy leader TERNA in record-breaking deal

Masdar, Abu Dhabi’s Future Energy Company, has completed a landmark acquisition of 70% of TERNA ENERGY, a leading renewable energy firm in Greece, in a deal valued at €3.2 billion ($3.4 billion).

This transaction, which included regulatory approval, is the largest energy deal ever recorded on the Athens Stock Exchange and one of the most significant in the EU renewables sector, according to Masdar.

The purchase price of €20 ($21) per share underscores Masdar’s confidence in TERNA ENERGY’s growth potential. Currently operating 1.2 gigawatts (GW) of clean energy capacity across wind, solar, biomass, and hydro projects, TERNA aims to reach 6GW by 2029. It also manages one of Europe’s largest pumped hydro projects, the 680-megawatt Amfilochia initiative.

Masdar plans to make an all-cash tender offer for TERNA ENERGY’s remaining shares, further solidifying its role as a key player in the energy transition across Greece and Europe. The acquisition aligns with Masdar’s goal of achieving 100GW of global renewable capacity by 2030.

Masdar CEO Mohamed Jameel Al Ramahi emphasized the strategic partnership, saying, “Our investment in TERNA ENERGY reflects our commitment to advancing Greece’s renewable energy goals and expanding clean energy solutions across Europe.”

Georgios Peristeris, Executive Chairman of TERNA ENERGY, highlighted the shared vision with Masdar, stating, “This partnership strengthens our role in the green energy transition and opens endless opportunities for growth.”

The acquisition marks a significant milestone for both companies, reinforcing their commitment to clean energy and sustainability.